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I would like to be able to calculate the interest rate that is compounded for a given total interest rate, and number of compounding events.

TotalInterestRate = ((1+CompoundingRate/#CompoundingEvents)^#CompoundingEvents)-1

Basically would like to solve this equation for Compounding Rate.

For a more concrete example, calculating the Monthly Interest Rate from a given APY. The formula for APY given a Monthly Interest Rate would then be.

APY = ((1+InterestRate/12)^12)-1

What would be a good way to go about solving this equation?

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