You place $11,000 in an account. You hope to have $23,000 in the account after 15 years. What effective annual yield is needed to accomplish this?
11000(1+i)^15 = 23000
(1+i)^15 = 2.090909 , keep the answer in your calculator
then take the 15th root
on mine:
y^x
(1/15)
= ....
let me know what you get,