
Bill L. answered 01/22/13
Patient and works well with students.
Starting with:
0.106508=(1+(r/4))^4-1
add 1 to both sides:
1.106508=(1+(r/4))^4
take the fourth root of both sides:
1.106508^(1/4) = 1+(r/4)
1.025625 = 1+r/4
0.025625 = r/4
0.1025 = r
or
10.25% = r
Ahmed A.
Thank you
01/22/13