SOLUTION: At what interest rate must $5600 be compounded annually to equal $13,057.18 after 11 yr?

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Question 1137772: At what interest rate must $5600 be compounded annually to equal $13,057.18 after 11 yr?
Answer by greenestamps(13203) About Me  (Show Source):
You can put this solution on YOUR website!


5600%281%2Bx%29%5E11+=+13057.18

%281%2Bx%29%5E11+=+13057.18%2F5600

1%2Bx+=+%2813057.18%2F5600%29%5E%281%2F11%29

x+=+%2813057.18%2F5600%29%5E%281%2F11%29-1

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