SOLUTION: Can you please help me solve 60= [400/(1+r)^3 for r?

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Question 561935: Can you please help me solve 60= [400/(1+r)^3 for r?
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
solve 60 = [400/(1+r)^3 for r?
:
multiply both sides by (1+r)^3
60(1+r)^3 = 400
:
divide both sides by 60
(1+r)^3 = 400%2F60
(1+r)^3 = 6.667
:
find the cube root of both sides
1+%2B+r+=+6.667%5E%281%2F3%29
Using a calc
1 + r = 1.882
;
subtract 1 from both sides
r = 1.882 - 1
r = .882