At what interest rate the must $4500 be compounded annually to equal $10,174.07 after 14 years?
Thanks! ;)

Question

At what interest rate the must $4500 be compounded annually to equal $10,174.07 after 14 years? 
Thanks! ;)

anonymous · Answer

use 

V = P (1 + r)^y

10,174.07 is v
14 is y
4500 is p
plug these in to find r

10174.07=4500(1+r)^14

anonymous · Answer

@CalebBeavers Hi, can you help me to find r I am stuck... Thanks!!

anonymous · Answer

it will be 2.26

anonymous · Answer

10174.07/4500=(1+r)^14

$$\large \sqrt[14]{10174.07/4500}-1=r$$

anonymous · Answer

Not sure what I am doing wrong...

anonymous · Answer

First you divide both sides by 4500, then take the 14th root of both sides, and then subtract 1 from both sides

anonymous · Answer

Ok! let me try..

anonymous · Answer

How can I plug the 14th square root on my TI-30xIIS calculator, Do you have an idea? Thanks!

anonymous · Answer

Not sure...there might be a button that looks like $$\sqrt[y]{x}\large$$

anonymous · Answer

Yes, there is one like this $$\sqrt[x]{?}$$

anonymous · Answer

Its there is an easy way to do this??