There are people here that have formulas that far exceed my engineering economics from 30 years ago.....but I will try
FV=10,000
i= unknown (ANNUAL interest rate)
PV=Present value (IF you ever learn ANYthing in life...learn the TIME-VALUE of money)=9770
FV = PV (1+i)^n FV=10,000 PV=9770 i=? n=1.5 (18 months is 1.5 years)
Plug and play
10,000 = 9770 (1 +i)^1.5
10,000/9770 = (1+i)^1.5
1.02354 =(1+i)^1.5 Take the LOG of both sides
.01010543 = 1.5 (log(1+i) divide both sides by 1.5
.00673695 = log (1+i) Both sides to power of 10
1.015633 = 1+i Subtract 1 from both sides
i=.015633=1.5633 %
I know I took the long route to get here......sometimes it's safer...haha