SOLUTION: how to solve the following equation using only log of 10 or natural log: 12500=8400(1+r)^8

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Question 1029521: how to solve the following equation using only log of 10 or natural log:
12500=8400(1+r)^8
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
how to solve the following equation using only log of 10 or natural log:
12500=8400(1+r)^8
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(1+r)^8 = 125/84
1+%2B+r+=+root%288%2C%28125%2F84%29%29
r+=+root%288%2C%28125%2F84%29%29+-+1
r =~ 0.05094222
=~ 5.09%
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No logs needed.