Question 435037
{{{3P = P(1+r/1)^(7*1) = P(1+r)^7}}}
<==> {{{3 = (1+r)^7}}}
<==> {{{root(7, 3) - 1 = r}}}
==> 1.16993 - 1 = r, or r = 0.16993, or r = 16.993%