1000(1+r)^2 = 1175
(1+r)^2 = 1.175
take √ of both sides and solve for r
Jen made an initial investment of
$1000 into a T-Bill account. After 2
years, her investment totaled $1 175.
Calculate the rate of appreciation, r, of
the investment. Give answer to 2 decimal
places.
1 answer
1 answer