Question

Solve for r 7114463=704869(1+r)^4

Answer 1

To solve for r in the equation 7114463 = 704869(1+r)^4, we can first divide both sides by 704869 to isolate the term (1+r)^4:

7114463 / 704869 = (1+r)^4

10.0927135 = (1+r)^4

Taking the fourth root of both sides gives:

(10.0927135)^(1/4) = 1 + r

1.8654 = 1 + r

Subtracting 1 from both sides yields:

r = 0.8654

Therefore, r ≈ 0.8654.