SOLUTION: Hi there, my question is about finding the percent interest, could you help me out, please? Information given in problem: Use formula A=P(1+(r/n))^(nt) Amount invested--$5700

Algebra ->  Finance -> SOLUTION: Hi there, my question is about finding the percent interest, could you help me out, please? Information given in problem: Use formula A=P(1+(r/n))^(nt) Amount invested--$5700       Log On


   



Question 929258: Hi there, my question is about finding the percent interest, could you help me out, please?
Information given in problem:
Use formula A=P(1+(r/n))^(nt)
Amount invested--$5700
Number of Compounding Periods--360
Accumulated Amount--$11600
Time in "t" years--17
I am not sure how to solve for "r" in this situation.
Thank you!

Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
with a calculator...
360%28root%286120%2C+11600%2F5700%29+-+1%29 = r = .0418 0r 4.18% rounded