document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1061722>Question 1061722</A>: <I><SPAN STYLE=\"word-break: break-all;\"> can some one please help? I'm trying to find the compounded annually interest rate. I'm not sure what the formula is to work it out. with this question can someone please tell me how to find it. when I think I'm right it doesn't look right. I think its 3.5% but not sure\r<BR>\n" );
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document.write( "here goes.... Charles invests £18,750 and after 6 years his balance is 23,048.54 His investment pays interest compounded annually. at what rate did he receive? answer needs to be in percent , rounded to nearest decimal point\r<BR>\n" );
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document.write( "thank you guys all help is appreitiated  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #676502 by </B><A HREF=/tutors/aboutme.mpl?userid=addingup><B>addingup(3677)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=addingup><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=addingup><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=676502\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> r = (A/P)^(1/t)-1<BR>\n" );
document.write( "r= (23,048.54/18,750)^(1/6)-1 solve, use your calculator, and you'll get 0.035 or 3.5%, so you had it right. </SPAN>\n" );
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