Question

Check my work Solve for the unknown number of years in each of the following (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.): Years points Interest Rate 7 % $ Skipped Present Value $ 560 560 810 18,400 21,500 Future Value 1,389 1,821 289,715 430,258 11 eBook Hint Print References

Answer 1

Below are the calculations:

FV = PV X (1+r) 1389 = 560 x (1 +0.07) n = 13.42

FV = PV X (1+r) 1821 = 810 x (1 +0.08)" n = 10.53

FV = PV X (1+r) 289715 = 18400 x (1 +0.09)” n = 32

FV = PV x (1 + r)! 430258 = 21500 x (1 + 0.11) n = 34.77

Present Value	Years	Interest Rate	Future Value
560	13.42	7%	1389
810	10.53	8%	1821
18400	32.00	9%	289,715
21500	34.77	11%	430,258