Mathematics, 20.11.2020 01:00 lavardamon123

Suppose a deposit of $ 2,000 in a savings account that paid an annual interest rate r (compounded yearly) is worth $ 2,234 after 2 years. Using the formula A = P ( 1 + r ) t , we have 2 , 234 = 2 , 000 ( 1 + r ) 2 Solve for r to find the annual interest rate (to the nearest tenth).

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