$20,000=$17,000(1+r)^5 divide both sides by 17,000
1.17647=(1+r)^5 take the 5th root of both sides
1+r =1.033 subtract 1 from both sides
r =0.033 x 100
r=3.3%
20 000 = 17 000(1 + r)5
Flip sides: 17 000(1 + r)5 = 20 000
Divide both sides by 17 000: (1 + r)5 = 20 000 / 17 000
Find the fifth root of both sides: 1 + r = (20 000 / 17 000)1/5
Subtract 1: r = (20 000 / 17 000)1/5 - 1
Calculator time!