To solve for the interest rate [tex]\( r \)[/tex], let's examine the provided information and the corrected equation.
The initial incorrect attempt was:
[tex]\[ A = P + \operatorname{Pr} t \][/tex]
To correct this equation, we need to properly distribute the product and correctly express [tex]\( r \)[/tex]:
[tex]\[ A = P + P \cdot r \cdot t \][/tex]
Rearranging this equation to isolate [tex]\( r \)[/tex]:
[tex]\[ A - P = P \cdot r \cdot t \][/tex]
Now, solve for [tex]\( r \)[/tex] by dividing both sides of the equation by [tex]\( P \cdot t \)[/tex]:
[tex]\[ r = \frac{A - P}{P \cdot t} \][/tex]
Assuming we applied all the given information correctly, upon solving this equation, we find that the interest rate [tex]\( r \)[/tex] evaluates to 2.
