3=(1+i/52)^260 Take the log of both sides,
Log(1 +i/52) = Log(3) / 260
Log(1 +i/52) =0.00183508
1 + i/52 =1.00423437
i/52 = 1.00423437 - 1
i/52 =0.00423437
i = 52 x 0.00423437
i =0.2202 x 100
i =22.02% - This is the interest rate compounded weekly to have $1 grow to $3 in 260 weeks, or in 5 years.
3=(1+i/52)^260 ?
\(3=(1+\frac{\sqrt{-1}}{52})^{260}\ ?\)
\((1+\frac{\sqrt{-1}}{52})^{260}=0.297010213218-1.00632687949\ i\)
\(\Large3\neq 0.297010213218-1.00632687949\ i\)
!
3=(1+i/52)^260
Hi asinus
If you look at this question it is reasonable to assume that i is not the imaginary i but rather that
i stands for interest rate.
It is the formula for compound interest
It is asking what nominal yearly rate compounded monthly will turn $1 into $3 in the space of 260 weeks
Just as our guest has already explained :)