# SOLUTION: Does anyone know how to solve the compound interest formula for RATE? Likely we are all familiar with the compound interest formula, thus: {{{A=(P(1+(r/n))^(n*t))}}} Where:

Algebra ->  Algebra  -> Finance -> SOLUTION: Does anyone know how to solve the compound interest formula for RATE? Likely we are all familiar with the compound interest formula, thus: {{{A=(P(1+(r/n))^(n*t))}}} Where:       Log On

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 Algebra in Finance Solvers Lessons Answers archive Quiz In Depth

 Question 318347: Does anyone know how to solve the compound interest formula for RATE? Likely we are all familiar with the compound interest formula, thus: Where: A = amount P = principle r = rate (percent written as a decimal term) n = number of compounding periods per year (i.e., quarterly = 4) t = number of years One of the tutors was so good as to solve this formula for TIME, thus: Does anyone know how to solve this formula for the RATE? Stan has \$1,500.00 and would quite like to have \$5,000 in five years on a compound interest account. What interest rate must he fetch to meet this goal? Thanks so very much for any reply, Charlie Bass Abilene, TX cfbass@yahoo.comAnswer by scott8148(6628)   (Show Source): You can put this solution on YOUR website!dividing by P ___ taking log ___ dividing by (n*t) ___ reverse log ___ subtracting 1 ___ multiplying by n ___