Solve the compound interest formula for the interest rate r using the properties of rational exponents. then use the obtained formula to calculate the interest rate for an account that was compounded semi-annually, had an initial deposit of $10,000 and was worth $14,373.53 after 11 years.

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faldduE · Accepted Answer

∵14,373.53=10,000(1+r2)2(11)&amp;nbsp;⇒14,373.53=10,000(1+r2)22&amp;nbsp;⇒14,373.5310000=(1+r2)22&amp;nbsp;⇒(1+r2)22=14,373.5310000&amp;nbsp;⇒(1+r2)22=1.437353&amp;nbsp;⇒In(1+r2)22=In(1.437353)&amp;nbsp;⇒22In(2+r2)=In(1.437353)&amp;nbsp;⇒In(2+r)=In(1.437353)22+In2&amp;nbsp;⇒(2+r)=eIn(1.437353)22+In2)&amp;nbsp;⇒r=eIn(1.437353)22+In2)&amp;nbsp;⇒r=0.03325&amp;nbsp;⇒r=3.325%&amp;nbsp;

Solve the compound interest formula for the interest rate r using the properties of rational...

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