Answer
The rate is 20%.
Work Step by Step
$A=P(1+r)^t$
$4320=3000(1+r)^2$
$4320 \div 3000 = (1+r)^2$
$1.4=(1+r)^2$
$1.2=1+r$
$r=0.2$
The rate is 20%.
Intermediate Algebra (6th Edition)
by Martin-Gay, Elayn
Published by
Pearson
ISBN 10:
0321785045
ISBN 13:
978-0-32178-504-6
Chapter 8 - Section 8.1 - Solving Quadratic Equations by Completing the Square - Exercise Set - Page 485: 75
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