SOLUTION: If you've got a minute, can you please help with this algebra problem? 4100 = 100*((1+X)^20 -1)/X I can also take this down to 41X+1 = (1+X)^20 but that doesn't help

Algebra ->  Algebra  -> Exponential-and-logarithmic-functions -> SOLUTION: If you've got a minute, can you please help with this algebra problem? 4100 = 100*((1+X)^20 -1)/X I can also take this down to 41X+1 = (1+X)^20 but that doesn't help       Log On

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Question 185701: If you've got a minute, can you please help with this algebra problem?
4100 = 100*((1+X)^20 -1)/X

I can also take this down to
41X+1 = (1+X)^20
but that doesn't help me
Answer by stanbon(48516) About Me  (Show Source):
You can put this solution on YOUR website!
algebra problem?
4100 = 100*((1+X)^20 -1)/X
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Using Google and search string "present value equation"
I found the following:
i = [FV/PV]^(1/n) -1
i = [4100/100]^(1/20) -1
i = [41]^(1/20) -1
i = 1.20 -1
i = 0.20 or 20%
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Cheers,
Stan H.