Concept explainers
For Exercises 31 and 32, use
Compound Interest. A firm deposits $3200 in a savings account for 2 years. At the beginning of the second year, an additional $1800 is deposited. If a of $5207 is in the account at the end of the second year, what is the annual interest rate?
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Elementary and Intermediate Algebra: Concepts and Applications (7th Edition)
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