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Mathematics 11 Online
OpenStudy (anonymous):

if $4200 is invested in a savings account for which interest is compounded semiannually, and if the $4200 turns into $4900 in 4 years, what is the interest rate of the savings account?

OpenStudy (mertsj):

\[4900=4200(1+\frac{r}{8})^{8(4)}\]

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