I am trying to solve for the variable i but I can't seem to do it. I've tried various ways but get totally lost towards the end.
Here is the equation:
(Note: x is not a variable, it indicates multiplication here)
10.5754 x i = 1 -[1/(1+i)^12]
I know that the answer is .02 or 2% but I can't seem to figure this out and its driving me crazy.
Any suggestions or help is greatly appreciated!