Ms.reema rao deposited rs.9000 at the end of each year in a bank. after 3 years, the amount accumulated was rs.29,790. find the annual rate of compounding.
I KNOW THE FORMULA IS : A = C/i [ ( 1 + i )n – 1 ]
BUT IM CONFUSED HOW DO I EQUATE THE SUM SINCE WE DO NOT HAVE THE VALUE FOR i.
PLEASE SOLVE AND EXPLAIN HOW WE GET THE RATE OF INTEREST …..THANK YOU !!! c: