<PRE><B>Question 1120055</B>
FV=Payment (1+i)^n)-1/i
5703.88=1000(1+i)^n-1/i
5.70388=(1+i)^5-1/i
Picking 0.03
(1+.03)^5=1.16, so 0.16/0.03=$5333.33
try -.04
1.2167-1/0.04=0.2167/0.04=5.416
Try 0.07
1.2762-1/.05=5.751, a little too big
try 0.069 and get 5.739
0.066 and get 5705.02
0.0659 will give the answer.
Interest rate is 6.59%</PRE>