Answer:
2471.81
Step-by-step explanation:
Let I be the interest, r the annual rate and P the principal. Then:
I = P(r)^2 = 5460
I = P(r)^4 = 12060.6
so r^2 = P(r)^4 / P(r)^2 = 12060.6/5460
r^2 = 2.2089
r = 1.486
So P(r)^2 = P* 2.2089 = 5460
P = 5460 / 2.2089 = 2471.81.
