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August 20, 2014

August 20, 2014

Posted by **Anonymous** on Saturday, June 22, 2013 at 4:03pm.

- math -
**Henry**, Monday, June 24, 2013 at 11:14amP = Po(1+r)^n

P = 8000+1261 = 9261.

Po = 8000.

n = 1comp./yr. * 3 yrs. = 3 Compounding

periods.

r = ?

8000(1+r)^3 = 9261.

Divide both sides by 8000:

(1+r)^3 = 1.157625.

Take cube of both sides:

1+r = 1.05

r = 0.05 = 5% per yr.

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