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The problem is asking to determine the interest rate given that an initial amount of $1,100 grows to $1,529 over 8 years. 

This is a typical problem involving compound interest, and the formula used is:

\[
A = P(1 + r)^t
\]

Where:
- $ A $ is the final amount ($1,529),
- $ P $ is the initial principal ($1,100),
- $ r $ is the interest rate (as a decimal),
- $ t $ is the time in years (8 years).

Rearranging the formula to solve for $ r $:

\[
r = \left( \frac{A}{P} \right)^{\frac{1}{t}} - 1
\]

Now, let's calculate the interest rate.The interest rate is approximately **4.2%**.

Do you need further details or have any questions?

Here are five related questions you might find helpful:
1. What is the formula for calculating simple interest instead of compound interest?
2. How would the calculation change if interest was compounded monthly instead of annually?
3. What effect does increasing the initial principal have on the final amount?
4. How do you calculate the time required to reach a specific amount given a fixed interest rate?
5. Can compound interest ever result in the interest rate decreasing?

**Tip:** Always double-check whether the interest is compounded annually, monthly, or at another interval. This significantly affects the final amount.

If $1,100 grows to $1,529 in 8 years, determine the interest rate over that period.

Learn how to calculate the interest rate when $1,100 grows to $1,529 over 8 years using the compound interest formula. This step-by-step solution covers core algebraic concepts. Suitable for students in Grades 9-12.

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