Out Compound

How to work out Compound Interest?

Use the compound interest formula to find the interest rate p.a. if £6800 has a future value of £9320 in 4 years.
I know the formula is V = P(1+%)^n

but what inverse operation, so to speak, would help you find the % interest rate??

thank you in advance

9320 = 6800(1 + a)^4
9320 / 6800 = (1 + a)^4
233 / 170 = (1 + a)^4
(233 / 170)^(1/4) = 1 + a
a = (233 / 170)^(1/4) - 1
a = 0.081998727

Thus, interest rate per annum = 8.1998727 %

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