Answer :
The formula we can use is A=P(1+rt)
A =accumulated value, P=principal, r=rate, t=time(years)
2880=2000(1+r*2)
2880=2000+4000r
800=4000r
r=880/4000=0.22
interest rate 22%
A =accumulated value, P=principal, r=rate, t=time(years)
2880=2000(1+r*2)
2880=2000+4000r
800=4000r
r=880/4000=0.22
interest rate 22%