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Don G
Lv 7
Don G asked in Science & MathematicsMathematics · 7 years ago

If 38.4023 = [1 - 1/(1 + r)^48] / r, how can I solve for r?

This is from the formula for the PV of an Annuity. PV is 16,200, N is 48, and PMT is 421.85. So the "factor" must be 16,200 / 421.85, or 38.4023.

So 38.4023 = [1 - 1/(1 + r)^48] / r. How can I solve for R? I'm stumped.

2 Answers

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  • ?
    Lv 7
    7 years ago
    Favorite Answer

    Need a graphical calculator to solve for R

  • Don G
    Lv 7
    7 years ago

    Wow, no wonder it's over my head. But thanks.

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