5000(1 + i%)⁵ = 5800
(1 + i%)⁵ = 1.16
1 + i% = 1.030129
i% = 0.030129
i = 3.01% (2.d.p)

Yearly interest of 3.01%

May I know how u get 1.03

Root 5, 1.16

I still dun understand,can u pls help to further elaborate, thk

Which part of the compound interest formula do you need to go through, the concepts behind it or the components in the formula, so easier for me to explain without going through the whole syllabus

Thank