Question 1034891
{{{ A = P*( 1 + r/n )^(n*t) }}}
{{{ P = 2500 }}}
{{{ t = 6 }}}
{{{ n = 4 }}}
{{{ A = 3269.98 }}}
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{{{ 3269.98 = 2500*( 1 + r/4 )^(4*6) }}}
{{{ 1.307992 = ( 1 + r/4 )^24 }}}
{{{ log( 1.307992 ) = 24*log(( 1 + r/4 )) }}}
{{{ .116605= 24*log(( 1 + r/4 )) }}}
{{{ .0048585 = log(( 1 + r/4 )) }}}
{{{ 10^.0048585 = 1 + r/4 }}}
{{{ 1.01125 = 1 + r/4 }}}
{{{ r/4 = .01125 }}}
{{{ r = .045 }}}
{{{ .045*100 = 4.5 }}}
The interest rate is 4.5%
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check:
{{{ 3269.98 = 2500*( 1 + r/4 )^(4*6) }}}
{{{ 3269.98 = 2500*( 1 + .045/4 )^(4*6) }}}
{{{ 3269.98 = 2500*1.01125^24 }}}
{{{ 1.307992 = 1.01125^24 }}}
{{{ 1.307992 = 1.307991 }}}
( with My TI calculator -close enough )
Hope I got it!