Solve the problem.When P dollars is invested at interest rate i, compounded annually, for t years, the investment grows to A dollars, where A = P(1 + i)
t . Find the interest rate i if $2420 grows to $3550 in 2 years. Round your answer to the nearest hundredth of a percent.

A. 10.56 %
B. 46.69 %
C. 21.12 %
D. 23.35 %


Answer: C

Mathematics

You might also like to view...

Solve the equation for the indicated variable. = 5 for x

A. 5a + b B. b - a + 5 C. 5a + ab D. a + b + 5

Mathematics

Determine if the given ordered pair is a solution to the equation.y = x - ,  

A. Yes B. No

Mathematics

Write the standard equation for the circle.

A. (x - 2)2 + (y + 2)2 = 16 B. (x + 2)2 + (y - 2)2 = 4 C. (x - 2)2 + (y + 2)2 = 4 D. (x + 2)2 + (y - 2)2 = 16

Mathematics

Refer to this figure to decide whether the statement is true or false.  is parallel to .

A. True B. False

Mathematics