$$ 36000 = 3450 * \frac{1-[1/(1+r)^{12}]}{r} $$
The next step is divide both sides by 3450. Now I'm stuck. Help solve for r.
2026-05-14 20:08:32.1778789312
Solve for r. Logarithms
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Divide by $3450$ and multiply by $r$. This gives $$\frac{240}{23}r=1-(1+r)^{-12}$$$$(1+r)^{-12}=1-\frac{240}{23}r$$$$1=(1+r)^{12}[1+\frac{240}{23}-\frac{240}{23}(r+1)]$$So that$$\frac{263}{23}(1+r)^{12}-\frac{240}{23}(r+1)^{13}-1=0$$This represents a $13^{th}$ ordered polynomial equation for $r+1$, which has generally 13 roots.