coooool222
Junior Member
- Joined
- Jun 1, 2020
- Messages
- 93
To the nearest tenth, what interest rate, compounded annually, will produce $4613 if $3500 is left at this interest for 10 years?
Please don't give me the manipulated answer to answer the rate of interest. Heres what I did
4613 = 3500(1+R)^10
1.318= (1+R)^10
log 1.318 = 10 log (1+R)
Here is my work I'm stuck after this.
Please don't give me the manipulated answer to answer the rate of interest. Heres what I did
4613 = 3500(1+R)^10
1.318= (1+R)^10
log 1.318 = 10 log (1+R)
Here is my work I'm stuck after this.