If $4200 is invested in a savings account for which interest is compounded
semiannually, and if the $4200 turns into $4900 in 4 years, what is the interest
rate of the savings account?

3.9%

Step-by-step explanation:

The formula for compound interest to apply is;

where;

A=amount at the end

P=starting amount/principal

n=number of compounding years

t=total number of years

r=interest rate expressed as a decimal

Given

P=$4200, n=2, t=4 and A=$4900 R=?

Substitute values in equation, take r=r

Divide both sides by 4200

Introduce root 8 to the left hand side, thus eliminating the power 8 in the right hand side

r=3.9%

3.89

Step-by-step explanation:

Give a <3 ?

step-by-step explanation:

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