Problem

Interest rate. If P dollars are invested at 100r percent compounded annually, at the end o...

Interest rate. If P dollars are invested at 100r percent compounded annually, at the end of 2 years it will grow to A = P(1 + r)2. At what interest rate will $484 grow to $625 in 2 years? (Note: If A = 625 and P = 484 find r.)

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