the starting point to set this one up is the compound interest formula
A = P(1 + r/n)^(nt)
from there then you want to solve for the value of "r" algebraically!
(A/P)^(1/nt) = 1 + r/n
r = n[(A/P)^(1/nt) - 1]
Colten P.
asked 12/03/18It is the compounding interest formula
the starting point to set this one up is the compound interest formula
A = P(1 + r/n)^(nt)
from there then you want to solve for the value of "r" algebraically!
(A/P)^(1/nt) = 1 + r/n
r = n[(A/P)^(1/nt) - 1]
Philip P. answered 12/03/18
Affordable, Experienced, and Patient Algebra Tutor
A = P (1 + r/n)nt
A/P = (1 + r/n)nt
(A/P)1/nt = 1 + r/n
(A/P)1/nt - 1 = r/n
n( (A/P)1/nt - 1 ) = r
r will be a decimal value. Multiply by 100% to change to a percent.
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Piddlesburg S.
How did you move nt over if it's an exponent. I thought the only way to move exponentiation is with logarithm.01/25/23