A company invests $15,000.00 in an account that compounds interest annually. After two years, the account is worth $16,099.44. Use the function in which r is the annual interest rate, P is the principal, and A is the amount of money after t years. What is the interest rate of the account? A = P(1 + r)t

1.04%
3.6%
5.4%
7.3%

Question

A company invests $15,000.00 in an account that compounds interest annually. After two years, the account is worth $16,099.44. Use the function in which r is the annual interest rate, P is the principal, and A is the amount of money after t years. What is the interest rate of the account? A = P(1 + r)t
 

1.04%
3.6%
5.4%
7.3%

anonymous · Answer

Ok so A= 16,099.44 t=2 you want to find r
so get r by itself

anonymous · Answer

i will try to
 do it and thank you for your help..