What was the interest-rate if your balance on an investment of $157 at the end of six years is $1268.36

Answer 1

1268.36 = 157 * (1 + x)^6

8.08 = (1 + x)^6

log (8.08) = 6 * log (1+x)

0.151235227 = log(1+x)

10^ 0.151235227 - 1 = x

x = 0.416561 = 41.6561%