Asum of $1000 was invested for 4 years, and the interest was compounded semiannually. if this sum amounted to $1459.54 in the given time, what was the interest rate? (round your answer to two decimal places.)

A=furuter aount
P=present amount
r=rate in decimal
n=number of times per year it is compounded
t=time in years

A=1459.54
P=1000
r=r
n=2 (semianually is 2 times per year)
t=4



divide both sides by 1000




times both sides by 256
373.64224=
take the 8th root of both sides

minus 2 from both sides

aprox
0.0968=r
9.67%