Nominal interest

[delish_fish]

I get what I'm supposed to be doing,
But I'm confused on how to go about calculating the formula from here.
I've gotten the equation etc: (1+i/12)^12 = (1+0.08)^2
and then (1+i/12)^2 = (1.08)^2
Now i get confused on how to isolate 'i' from here???? How can I go about doing that???

 

[tkhunny]

(1+i/12)^12 = (1+0.08)^2
and then (1+i/12)^2 = (1.08)^2

I'm going to guess that's just a typo.

(1+i/12)^12 = (1.08)^2

Have you considered a 12th root?

(1+i/12) = (1.08)^(2/12) = 1.08^(1/6)

I'm struggling with why you would be struggling on this point. There are lots of places to be stuck, but this one is a bit unusual.

 

[Deleted member 4993]

Fish,

May we ask - what type (or level) of mathematics course are you attending?

 

[Denis]

Something fishy going on here...