Question

Use the compound interest formula to find the annual interest​ rate, r, if in 2 years an investment of 4,000 grows to 4410 The rate is %.

Answer 1

Answer:

5%

Step-by-step explanation:

Bank amount=PA*(1+r/100)^t

4410=4000*(1+x/100)^2

1.05=(1+x/100), x=5%