Results 1 to 3 of 3

Math Help - Solving for interest rate

  1. #1
    Newbie
    Joined
    Feb 2009
    Posts
    2

    Solving for interest rate

    Is it possible to solve this problem for "i" given b and n as constants > 1:

    (i + 1)n(bi-1) = -1

    i is the rate of a loan of term n with beginning balance b

    Thanks
    Follow Math Help Forum on Facebook and Google+

  2. #2
    Newbie
    Joined
    Feb 2009
    Posts
    2
    That post should read

    (i + 1)^n(bi-1) = -1
    Follow Math Help Forum on Facebook and Google+

  3. #3
    MHF Contributor

    Joined
    Apr 2005
    Posts
    15,707
    Thanks
    1470
    That works out to an (n+1)th degree polynomial equation in i. Even given specific numbers, there are no general methods for solving polynomials of degree higher than 4. There are various numerical methods you could use but they would require giving specific values to b and n.
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. Calculate interest rate based on interest in parcels
    Posted in the Business Math Forum
    Replies: 1
    Last Post: February 17th 2011, 09:38 PM
  2. Interest Rate
    Posted in the Calculus Forum
    Replies: 14
    Last Post: November 17th 2010, 12:56 PM
  3. Interest rate
    Posted in the Pre-Calculus Forum
    Replies: 2
    Last Post: November 22nd 2009, 12:52 PM
  4. interest rate
    Posted in the Business Math Forum
    Replies: 1
    Last Post: September 24th 2009, 04:50 PM
  5. Solving for interest rate
    Posted in the Math Topics Forum
    Replies: 2
    Last Post: April 9th 2008, 09:35 PM

Search Tags


/mathhelpforum @mathhelpforum