I am trying to solve for r in the equation below. I know the answer is 7.21% but am not able to get the answer when trying to work through. I thank you in advance for your help. Equation: $5,012.99 = $2,500 × (1 + R)10
How about if a=b*c^d, then a/b = c^d, then (a/b)^(1/d)=c. This should help you. Just match up the a, b, c and d with what you have.I am trying to solve for r in the equation below. I know the answer is 7.21% but am not able to get the answer when trying to work through. I thank you in advance for your help. Equation: $5,012.99 = $2,500 × (1 + R)10