15(1+p)+5.1=1.5(1+p)+23.5(1+p)x.05-.5 how to solve for p

this is a finace problem where i need to find the percentage.
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1 Answer

I read this as: 15(1+p)+5.1=1.5(1+p)+(23.5(1+p)*0.05)-0.5.

First solve for 1+p:

(1+p)(15-1.5-23.5*0.05)=-0.5-5.1=-5.6

12.325(1+p)=-5.6

1+p=-0.45436 (approx)

p=-1.45436=-145.436%
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