SOLUTION: how to solve the following equation using only log of 10 or natural log: 12500=8400(1+r)^8

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Question 1029521: how to solve the following equation using only log of 10 or natural log:
12500=8400(1+r)^8

Answer by Alan3354(69443)   (Show Source): You can put this solution on YOUR website!
how to solve the following equation using only log of 10 or natural log:
12500=8400(1+r)^8
----------
(1+r)^8 = 125/84


r =~ 0.05094222
=~ 5.09%
=============
No logs needed.


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