no this is actually a finance problem and i am solving for i, which is an interest rate. sorry for any confusion this may have caused. i should've stated that earlier, considering the fact that this is a math forum. my apologies..
10.5754i = 1 - [1/(1+i)^12]
As Andy mentioned, the "13th solution" is almost .02 or .0199991 but how do you solve for this?
Do you need a graphical calculator or can you solve it by hand? |