Question

Find the value of r, where r represents interest rate in decimal form.

4,000,000=6,000(1+R)^200

Answer 1

`4,000,000=6,000(1+r)^2^0^0 \\\\ 666.67 = (1+r)^2^0^0 \\\\ \sqrt[200]{666.67} = 1+r\\\\1.033 = 1 + r \\\\\boxed{0.33 = r}`