Use the formula A = P(1 + r)" to solve.
1 answer:
Answer:
Rate = 0.45 or 45%.
Step-by-step explanation:
20184 = 9600(1 + r)^2
(1 + r)^2 = 20184/9600 = 2.1025
Taking square roots of both sides:
1 + r = 1.45
r = 1.45 - 1 = 0.45.
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