What interest rate will cause $4000 to grow to $4494.40 in 2 years?

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UnybYbir

Mathematics

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The formula A=P1+r2 gives the amount A in dollars that P dollars will grow to in 2 years at interest rate r where r is given as a decimal), using compound interest. What interest rate will cause $4000 to grow to $4494.40 in 2 years?

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