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

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?

Jun 14th, 2015

Thank you for the opportunity to help you with your question!

Interest is 4494.4-4000

which gives 494.4

r square is 3505.6

rate is 59.2

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 14th, 2015

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Jun 14th, 2015

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