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1000(1+r)*2=1123.60
We simplify the equation to the form, which is simple to understand
1000(1+r)*2=1123.60
Reorder the terms in parentheses
+(+1000+1000r)*2=1123.60
Reorder the terms in parentheses
+(+2000+2000r)=1123.60
Remove unnecessary parentheses
+2000+2000r=+1123.60
We move all terms containing r to the left and all other terms to the right.
+2000r=+1123.6-2000
We simplify left and right side of the equation.
+2000r=-876.4
We divide both sides of the equation by 2000 to get r.
r=-0.4382
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