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If an amount of money P in pesos is invested at r percent compounded annually, it will grow to an amount A=P(1+r)² in two years. Suppose Mrs. Madrigal wants her money amounting to Php 200 000 to grow to Php 228 980 in two years. At what rate must she invest her money?

I need the process of the solution.. please help me.. thanks

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by AnimeAngel29

I won't be able to post the solution. This is a quadratic equation 200,000r^2 + 400,000r - 28,980. Use factoring to solve r, or quadratic formula. The final answer is x= - 207/100 or x = 7/100. Choose the positive x, which is 7/100. Change 7/100 to percent. The Final Answer is 7 %.

7 percent

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