Solve the Problem $\mathrm { A } = \mathrm { P } ( 1 + \mathrm { r } ) ^ { 2 }$

Multiple Choice

Solve the problem.
-If an amount of money, called the principal, P, is deposited into an account that earns interest at a rate r, compounded annually, then in two years that investment will grow to an amount A, given
By the formula $\mathrm { A } = \mathrm { P } ( 1 + \mathrm { r } ) ^ { 2 }$ . If a principal amount of $5000 grows to $6050.00 in two years, what is
The interest rate?

A) 11%
B) 8%
C) 12%
D) 10%