Help with some algebra on a finance question

[panamarojo1989]

Hi, so I'm doing some Weighted Average Cost of Capital questions for finance, I got stumped on a part I had to set up and solve algebreically.

I just need to solve for R. Answer should be approx. 3.32%

Questions attached as a .png

Thanks people!

 

[Deleted member 4993]

Hi, so I'm doing some Weighted Average Cost of Capital questions for finance, I got stumped on a part I had to set up and solve algebreically.

I just need to solve for R. Answer should be approx. 3.32%

Questions attached as a .png

Thanks people!

These cannot be solved by elementary algebraic methods. You can only approximate the answer through iteration.

What method/s have you been taught to solve these problems?

Are you allowed to use software like MS-Excel? There is a function called goal-seek in excel that can do this job.

 

[panamarojo1989]

We can now because of the coronavirus, nothing is stopping me from using PVIFA formula on excel during an exam. I was just curious if I could solve it algebraically, I thought my algebra had gone cold LOL. Glad you said it was advanced!