+0  
 
0
371
1
avatar

$${\left({\frac{{\mathtt{15\,000}}}{{\mathtt{10\,000}}}}\right)}^{{\mathtt{4}}}{\mathtt{\,-\,}}{\mathtt{1}}$$

 Mar 3, 2015

Best Answer 

 #1
avatar+118608 
+5

$$\\15000=10000(1+r)^4\\\\
3=2(1+r)^4\\\\
1.5=(1+r)^4\\\\
1.5^{0.25}=1+r\\\\
r=1.5^{0.25}-1\\\\$$

 

$${{\mathtt{1.5}}}^{\left\{{\mathtt{0.25}}\right\}}{\mathtt{\,-\,}}{\mathtt{1}} = {\mathtt{0.106\: \!681\: \!919\: \!700\: \!321\: \!6}}$$

 

So the interest rate is approximately  10.67%

 Mar 3, 2015
 #1
avatar+118608 
+5
Best Answer

$$\\15000=10000(1+r)^4\\\\
3=2(1+r)^4\\\\
1.5=(1+r)^4\\\\
1.5^{0.25}=1+r\\\\
r=1.5^{0.25}-1\\\\$$

 

$${{\mathtt{1.5}}}^{\left\{{\mathtt{0.25}}\right\}}{\mathtt{\,-\,}}{\mathtt{1}} = {\mathtt{0.106\: \!681\: \!919\: \!700\: \!321\: \!6}}$$

 

So the interest rate is approximately  10.67%

Melody Mar 3, 2015

5 Online Users

avatar
avatar
avatar
avatar