Question: Please explain the calculation procedure and formula of this problem. What is the meaning of the parentheses? (I don't want Excel sheets! I want to

Please explain the calculation procedure and formula of this problem. What is the meaning of the parentheses? (I don't want Excel sheets! I want to know how to calculate this problem!

2. What rate of return would you have to make.per year (compounded annually) for 6 years to triple your money? $5 as PV Ans: 20.09% $156i?FVnnumberofpmts20.09%

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