Ask Question
23 January, 02:34

You invest $2000 at an interest rate that is compound annually after 5 years, your principal has increased to $2262.82 what is the interest rate? Round to one decimal place.

+5
Answers (1)
  1. 23 January, 03:03
    0
    2.5%

    Step-by-step explanation:

    2262.82 = 2000 (1 + r) ^5

    (1+r) ^5 = 1.13141

    1+r = 1.025

    r =.025

    r = 2.5%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “You invest $2000 at an interest rate that is compound annually after 5 years, your principal has increased to $2262.82 what is the interest ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers