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Mathematics, 25.04.2020 21:54 eliLoumbardia

Can someone help me answer this question please?

The formula

gives the interest rate r, expressed as a decimal that will

allow principal P to grow into amount A in two years, if the interest is compounded annually. Suppose you have $350 to deposit into an account. Find the interest rate you would need to have $380 in the account at the end of the second year.

A. 4.4%

B. 0.042%

C. 4.2%

D. 104.1%

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Answers: 3

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The formula

gives the intere...
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