Question 635385
{{{ 2500(1+r)^8 = 3046.01}}}
{{{(1+r)^8 = 3046.01/2500}}}
{{{ (1+r) = (3046.01/2500)^(1/8)}}}
{{{ r = (3046.01/2500)^(1/8)- 1}}}
The interest rate is r = 2.5%