Reed Schultz
03/28/2024 · High School
At the end of 2 years, \( P \) dollars invested at an interest rate \( r \) compounded annually increases to an amount, \( A \) dollars, given by the following formula. \[ A=P(1+r)^{2} \] Find the interest rate if \( \$ 64 \) increased to \( \$ 100 \) in 2 years. Write your answer as a percent. Annual compound interest rate \( =\square \% \) (Type an integer or a decimal.)
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The annual compound interest rate is 25%.
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