![Find the value of the following: [ (1.1)9–1] 0.1 1,220 Enter your response below, rounded to two decimal places. Number](http://img.homeworklib.com/questions/e5518910-74bb-11ea-98df-1f0dedc9e01f.png?x-oss-process=image/resize,w_560)
Homework Answers
a. FV = $43300
PV = 22000
Time period(n) = 10 years
Let Rate be r compounded annually
We know that
FV = PV(1+r)n
43300= 22000(1+r)10
(1+r)10 = 43300/22000
r = 0.07 = 7%
b. 1220[(1.19 -1) /0.1]
1220*13.579= 16566.96
c. 58.05 = 1.32/(r-0.1)
58.05r - 5.805 = 1.32
r = 12.27%
d. (x-4)17 = 2
(x-4) = 2(1/17)
x = 5.04
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