Results 1 to 3 of 3

Math Help - Finding future value interest

  1. #1
    Newbie
    Joined
    Aug 2014
    From
    Los Angeles
    Posts
    2

    Finding future value interest

    Ok so basically I need to find the interest rate. Here's my work so far:

    Using the formula A=P(1+i)^n

    P = 4000, A = 5983.66, m = 4, t = 9, r = r/4, n = 36.

    So I plug it in and eventually I get to:

    (5983.66/4000)^1/36 - 1 = r/4

    How do I calculate this so that my answer isn't negative? I put it in the calculator and it comes up completely wrong. I'm gonna have to ask you to have patience with this one and tell me how you put it on the calculator because I'm a bit confused. Thanks for your help
    Follow Math Help Forum on Facebook and Google+

  2. #2
    Member
    Joined
    Feb 2014
    From
    Negros
    Posts
    103
    Thanks
    7

    Re: Finding future value interest

    what kind of calculator are you using? Your equation is definitely correct and I calculated r = 4.5%
    Try to add more grouping symbols, maybe enter it like this:
    (((5983.66/4000)^(1/36)) - 1) * 4 = r
    did you get it now?
    Follow Math Help Forum on Facebook and Google+

  3. #3
    Newbie
    Joined
    Aug 2014
    From
    Los Angeles
    Posts
    2

    Re: Finding future value interest

    Yes! That helps so much! Thank youuu.

    I'm kind of teaching this stuff to myself in an online class so I couldn't find that advice anywhere. You've made my day !!!
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. Replies: 10
    Last Post: October 15th 2011, 05:26 PM
  2. Replies: 5
    Last Post: January 5th 2011, 09:16 PM
  3. calculating interest rates and future values
    Posted in the Business Math Forum
    Replies: 1
    Last Post: May 3rd 2009, 06:04 PM
  4. Future Annuity with Compound Interest?
    Posted in the Algebra Forum
    Replies: 3
    Last Post: March 4th 2009, 05:22 PM
  5. TV or Not TV finding the interest
    Posted in the Pre-Calculus Forum
    Replies: 1
    Last Post: April 3rd 2007, 07:48 PM

Search Tags


/mathhelpforum @mathhelpforum