Solve the problem.The formula A = P(1 + r)2 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. Use the formula A = P(1 + r)2 to find what the rate of interest is if a principal amount of $4000 grows to $4665.60 in 2 years, if interest is compounded annually.

A. 10%
B. 9%
C. 6%
D. 8%


Answer: D

Mathematics

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