Finding an Intercul
V(t) = P
1+1
, where
The equation for the future value of a deposit earning compound interest is
P = the initial deposit
t = years invested
r=rate at which interest is compounded annually
n = number of times the interest is compounded per year
After 10 years, a $2,000-dollar investment compounded annually has grown to $3600. What is the
interest rate to the nearest whole-number percent?