lazjohnson
Answered

Westonci.ca is the ultimate Q&A platform, offering detailed and reliable answers from a knowledgeable community. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

If P dollars are invested today at an annual interest rater compounded once a year, then the value of the account A after 2 years is given by the formula A - P(1 + r)? Find the rate of interest required
to turn an investment of $1900 into $2200 after 2 years
***

Sagot :

sqdancefan

9514 1404 393

Answer:

  about 7.61%

Step-by-step explanation:

Put the given numbers into the formula and solve for r.

  2200 = 1900(1 +r)^2

  √(22/19) = 1 +r

  r = √(22/19) -1 ≈ 0.076055 ≈ 7.61%

Thank you for choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.