question on interest calculations?

Question

Lets say, i deposit $226 every month in an interest paying account for 10 years. At the end of 10 years, i have a total of 56287. What was the annual yield (interest) ?

Answer 1

You are putting in 226*12= $2712 per year
56287 = 2712(1+x)^10
56287/2712 = 20.7548 = (1+x)^10
ln 20.7548= 10 ln(1+x)
(ln20.7548/10 = ln(1+x)
e^[(ln20.7548/10] =1+x
e^[(ln20.7548/10] -1=x
35.43 % = x