SOLUTION: Solve for r. 200(1+r/12)^72=250 Thanks in advance for the help.

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Question 859842: Solve for r.
200(1+r/12)^72=250
Thanks in advance for the help.
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

(1 + r/12) = root%2872%2C+250%2F200%29 = 1.0031

  1 + r/12 = 1.0031

      r/12  = .0031

      r+=+12%2A.0031

      r = .0372  0r 3.72%