SOLUTION: I am stuck with the following problem: {{{ 40000= (2000/r)* (1-(1/((1+r)^24)))}}} I am trying to solve this for R, but I don't have the algebra skills necessary.

Algebra ->  Finance -> SOLUTION: I am stuck with the following problem: {{{ 40000= (2000/r)* (1-(1/((1+r)^24)))}}} I am trying to solve this for R, but I don't have the algebra skills necessary.      Log On


   

Question 932077: I am stuck with the following problem:
+40000=+%282000%2Fr%29%2A+%281-%281%2F%28%281%2Br%29%5E24%29%29%29
I am trying to solve this for R, but I don't have the algebra skills necessary.
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
+40000r=+%282000%29%2A+%281-%281%2F%28%281%2Br%29%5E24%29%29%29
+20r=1-1%2F%281%2Br%29%5E24%29
+20r%281%2Br%29%5E24=%281%2Br%29%5E24-1%29
+20r%281%2Br%29%5E24-%281%2Br%29%5E24%2B1=0%29
%281%2Br%29%5E24%2820r-1%29%2B1=0
It's not due to your lack of algebra skills.
You can't get a closed form solution for r.
You can look to solve it numerically, but I don't think that's what you're after.
Repost if you need more help.