find the rate, solve for r
I ussually dont need help for the types of question, but I am having alot of diffuculty isolating r by itself on one side of the = sign.
Assume a person invests $210 at the end of each year for 10 years at an annual interest rate of r. The ammount of money, A, in the account after 10 years is
his goal is to have 3089 in his account after 10 years.
Re: find the rate, solve for r
This is an equation of 9th degree in r. I doubt that you'll find a solution in closed form.
Originally Posted by delgeezee
Re-arrange the equation to
and use (for instance) Newton's method to get an approximate value of r.