how do you solve for r in the equation 6.77=-100+(150/(1+r)^3)

Can you give me the steps to solve for r in the following equation:

6.77=-100+(150/(1+r)^3)
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2 Answers

6.77=-100+150/(1+r3),

106.77=150/(1+r3),

1/106.77=(1+r3)/150,

1+r3=150/106.77,

r3=150/106.77-1=0.40489 approx,

r=∛0.40489=0.74 approx.

by Top Rated User (1.1m points)
r≓0.119989640
by Level 1 User (220 points)

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