The interest rate is _________%.

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16).  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 $6000 to grow to $6552.15 in 2 years?

The interest rate is _________%.

(Type an integer or a decimal. Round to the nearest tenth of a percent if needed.)

Jun 22nd, 2015

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

6552.15=6000(1+r/2)^2

r=0.045

r=4.5%

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Jun 22nd, 2015

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