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26-08-2022
Mathematics

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MAKE CONNECTIONS The formula A=P(1+r)
represents the amount of money A in an account after 1 year, where P is the amount initially deposited and r is the interest rate. Note that the interest rate is written as a decimal. Rashaad deposits $2150 into a savings account. After 1 year, he has $2182.25 in his account. Solve the equation for r, and determine the interest rate. Show your work.
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