Answers

2016-04-30T14:14:22+05:30
At the beginning: 
P = 276
After 1 year: 
P₁ = P + Pr%/100 = P(1 + r%/100)
After 2 year:
P₂ = P(1 + r%/100) + P(1 + r%/100)r%/100 = P(1 + r%/100)(1 + r%/100) = P(1 + r%/100)²
....
After n year:
Pn = P(1 + r%/100)


So after 16 years:
A = P
₁₆ = P(1 + r%/100)¹⁶
1 + r%/100 = ¹⁶√(P₁₆/P)
r% = (¹⁶√(P₁₆/P) - 1) × 100
r_\%=\bigg(\sqrt[16]{\frac{2200}{276}}-1\bigg)\times100=\\\\\Bigg(\sqrt{\sqrt{\sqrt{\sqrt{\frac{2200}{276}}}}}-1\Bigg)\times100=\Big(\big(\frac{2200}{276}\big)^\frac1{16}-1\Big)\times100\approx13.85\%
 
0
sorry but its wrong answer the correct answer is 10.04