SOLUTION: Consider the equation: 5000 equals 1000 left parenthesis 1 plus r right parenthesis to the power of n
5000=1000(1+r)^n
Solve for r if n=46.
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Question 989089: Consider the equation: 5000 equals 1000 left parenthesis 1 plus r right parenthesis to the power of n
5000=1000(1+r)^n
Solve for r if n=46.
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
5000=1000(1+r)^n
Solve for r if n=46.
======================
5000=1000(1+r)^46
5=(1+r)^46
---
r =~ 0.035607
r = ~ 3.56%
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