In Early 2013, $2000 Was Invested at a Certain Interest

question 32

Essay

In early 2013, $2000 was invested at a certain interest rate compounded annually.One year later, $1200 was deposited in another account at the same interest rate, also compounded annually.At the end of that year, there was a total of $3573.80 in both accounts.What is the annual interest rate?

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Definitions:

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