Answer
10 percent
Work Step by Step
$A=P(1+r)^2$
$2420=2000*(1+r)^2$
$2420/2000=2000/2000*(1+r)^2$
$1.21=(1+r)^2$
$\sqrt {1.21} =\sqrt {(1+r)^2}$
$1.1 = 1+r$
$r=.1$
Algebra: A Combined Approach (4th Edition)
by Martin-Gay, Elayn
Published by
Pearson
ISBN 10:
0321726391
ISBN 13:
978-0-32172-639-1
Chapter 6 - Section 6.7 - Quadratic Equations and Problem Solving - Exercise Set - Page 467: 38
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