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# The formula A=P left parenthesis 1 plus r right parenthesis squared (1+r)2 gives the amount A in dollars that P dollars will grow to in 2 years at

The formula A=P left parenthesis 1 plus r right parenthesis squared (1+r)2 gives the amount A in dollars that P dollars will grow to in 2 years at interest rate r left parenthesis where (where r is given as a decimal right parenthesis comma decimal), using compound interest. What interest rate will cause \$1000 to grow to \$1113.03 in 2​ years?

The required... View the full answer

Use the formula A = P(1 + r) 2  , plug in the... View the full answer

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