1000(1+r)^2 = 1175
(1+r)^2 = 1.175
take √ of both sides
1+r = 1.08397..
r = appr .0840 or 8.40%
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.
1000(1+r)=^2=1.1175
(1+R)^2=1.175
??
1 answer
1 answer