Jen made an initial investment of $1000 into a T-Bill account. After 2 years, her investment totaled $1 175. Calculate the rate of appreciation, r, of the investment. Give answer to 2 decimal places.
$$\\1175=1000(1+r)^2\\\\ 1.175=(1+r)^2\\\\ \sqrt{1.175}=1+r\\\\ r=\sqrt{1.175}-1$$
$${\sqrt{{\mathtt{1.175}}}}{\mathtt{\,-\,}}{\mathtt{1}} = {\mathtt{0.083\: \!974\: \!169\: \!433\: \!94}}$$
That is almost 8.4% pa
Honestly I don't know sorry
