Use this formula:
A= P(1+rt),
A is the final investment amount (4424.50x10)
P is the principal amount (25,000)
r is the rate of interest (annual)
t is the time period (10)
If A= P(1+rt),
then (1+rt) = A/P.
(1+r(10)=( 44,245)/25,000
10r=1.7698-1
r=.7698/10
r=.07698 or 7.698%
