Asked by JT

JT has $16000 saved. In 2years time his investment grew to $250 00.
Can you find the annual interest rate of his return by solving the following equation for him:

16000(1 + x)2 = 25000
Answered by bobpursley
(1+x)2=25/16
take the square root of each side.
1+x=5/4
solve for x
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