If I had $3000 dollars compounded annually for 5 years, what would my interest rate be?
So far I have:
A(1) = 3000( 1 + r/1)^((1)(5))
Then I got:
ln3000 + 5ln( 1+r )
But, now I am unsure on how to go on from this point. Any help would be greatly appreciated! Thanks so much!!