SOLUTION: I received a death benefit. The contribution was 19,000. The interest was 56,000. How do you calculate the interest rate over 16 years?

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Question 981075: I received a death benefit. The contribution was 19,000. The interest was 56,000. How do you calculate the interest rate over 16 years?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
I received a death benefit. The contribution was 19,000. The interest was 56,000. How do you calculate the interest rate over 16 years?
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I = Prt
56000 = 19000*r*16
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r = 18.42%
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Cheers,
Stan H.
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