A sum of $1000 was invested for 4 years, and the interest was compounded semiannually. If this sum amounted to $1441.26 in the given time, what was the interest rate?
A sum of $1000 was invested for 4 years, and the interest was compounded semiannually. If this sum amounted to $1441.26 in the given time, what was the interest rate?
$\displaystyle A = A_0\left(1 + \frac{r}{n}\right)^{nt}$