What is the value of 1.338225 in relation to X?
GCSE Secondary Maths Age 13-17 - Ratio, Proportion & Rates of Change: Compound Interest - Explained
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Mathematics
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10th - 12th Grade
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Hard
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The video tutorial explains how to solve a compound interest problem where the interest rate is unknown. Starting with an initial investment of £6000, the goal is to find the interest rate that results in a final amount of £8029.35 after five years. The instructor sets up an equation using the compound interest formula, solves for the interest rate by taking the fifth root, and concludes with the final answer. The tutorial emphasizes the importance of following systematic steps and not worrying about long answers.
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3 mins • 1 pt
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What method is used to find the value of X in the compound interest question?
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