Question 136366
FV=P(1+r)^n
__ FV is the future value
__ P is the starting amount (principal)
__ r is the interest rate per compounding period (as a decimal)
__ n is the number of compounding periods


the "Pe rt" is for continuous compounding __ e is the base for natural logs ( Euler's number)


9051.12=4800(1+r)^13 __ dividing by 4800 __ 9051.12/4800=(1+r)^13


taking the log __ log(9051.12/4800)=13(log(1+r))


dividing by 13 __ (log(9051.12/4800))/13=log(1+r)


taking antilog __ 10^((log(9051.12/4800))/13)=1+r


subtracting 1 __ (10^((log(9051.12/4800))/13))-1=r