document.write( "Question 214901: how do you solve for x if\r
\n" ); document.write( "\n" ); document.write( " 83.74 million = 15 million ( 1 - 1/ (1 + x)to the power of 7 all divided by x \n" ); document.write( "
Algebra.Com's Answer #162409 by Theo(13342)\"\" \"About 
You can put this solution on YOUR website!
I can't solve it, but your answer is x = .05998562534 if I interpreted the problem correctly.
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\n" ); document.write( "Your formula is present value of a payment where the number of years is 7 and x is the interest rate per year.
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\n" ); document.write( "I recognized the formula but no way could I find a way to solve for x.
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\n" ); document.write( "I think the computer goes through iterations to solve for the interest rate, rather than solving it directly.
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\n" ); document.write( "I suspect logs are involved but was unable to get it into a form where I could apply them.
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\n" ); document.write( "present value is 83.74 million
\n" ); document.write( "payment is 15 million per year.
\n" ); document.write( "number of years is 7
\n" ); document.write( "x is the interest rate per year = .05998562535
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\n" ); document.write( "I plugged the value of x into your formula and got 83.74 million so I know the value of x is correct.
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\n" ); document.write( "Sorry for not being able to solve it.
\n" ); document.write( "I hope what I did helped, even if I wasn't able to solve it algebraically.
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