Real-World Applicationshard
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An investment grows according to the formula A(t)=P(1+r)tA(t) = P(1 + r)^t, where PP is initial principal, rr is annual rate, and tt is time in years. If an investment of 10,000reaches10,000 reaches 20,000 in 10 years with annual compounding, what is the implied annual interest rate?