Four years ago, Jack invested $5,900.In 1 year from today, he expects to have $10,200.If Jack expects to earn the same annual return after 1 year from today as the annual rate implied from the past and expected values given in the problem, then in how many years from today does he expect to have exactly $17,200?

5-5,900010,200

NI%PVPMTFV

Solve for11.57

How can we calculate or how we know the interest is 11.57 ??