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January 30, 2015

January 30, 2015

Posted by **Lacey** on Sunday, November 2, 2008 at 8:25pm.

I really don't understand this problem. I've been going at it for hours and all I've come to is that the equation should be P=8400(1+x)^15 x being the annual percentage, so then, I substitute 12500 for P. but I don't know where to go from there. Please, I really need help on this.

- Math - I really need help, please. -
**bobpursley**, Sunday, November 2, 2008 at 8:37pm12500=8400(1+x)^15

divide both sides by 8400

1.488=(1+x)^15

take the fifteenth root of each side

1.488^(1/15)=1+x

1.027=1+x

- Math - I really need help, please. -
**Lacey**, Sunday, November 2, 2008 at 8:48pmoh, thank you so much!

- Math - I really need help, please. -

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