If P dollars are originally invested, the formula A = P11
Chapter 8, Problem Review(choose chapter or problem)
If P dollars are originally invested, the formula A = P11 + r22 gives the amount A in an account paying interest rate r compounded annually after 2 years. Find the interest rate r such that $2500 increases to $2717 in 2 years. Round the result to the nearest hundredth of a percent.
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