Question 978607
14000=31000(1+r)^16
dividing 14,000 by 31000=0.45161, and that equals (1+r)^16
ln of both sides
-0.79493=16 ln(1+r)
dividing by 16
-0.04968=ln (1+r)
raise both to e power
0.95153=(1+r)
r=-0.04847=  -0.0485

minus 4.85%
14000=31000(0.95153)^19  ;;now the 19th power
$12,061.15 or $12,100.  

I didn't round at the end, but if you are close to the answer, it is likely a rounding issue.