SOLUTION: how do i work out this equation? 60=[400/(1+r)^3]

Algebra ->  Expressions-with-variables -> SOLUTION: how do i work out this equation? 60=[400/(1+r)^3]      Log On


   

Question 41762: how do i work out this equation?
60=[400/(1+r)^3]
Answer by psbhowmick(878) About Me  (Show Source):
You can put this solution on YOUR website!
60+=+400%2F%281%2Br%29%5E3
or %281+%2B+r%29%5E3+=+400%2F60+=+20%2F3
or %281%2Br%29+=+%2820%2F3%29%5E%281%2F3%29+=+1.8821
or r = 1.8821 - 1 = 0.8821

As simple as that!