All answers must be entered as formula.
Future Value = Present Value*((1+r)^t) | ||||||
where r is the interest rate and t is the time period in years. | ||||||
1) | 297 = 240*((1+r)^4) | |||||
(1+r)^4 = 1.2375 | ||||||
1+r = (1.2375)^(1/4) | ||||||
1+r = 1.054718 | ||||||
r = .054718 | ||||||
r = 5.47%. | ||||||
2) | 1080 = 360*((1+r)^18) | |||||
(1+r)^18 = 1080/360 | ||||||
(1+r)^18 = 3 | ||||||
1+r = (3)^(1/18) | ||||||
1+r = 1.062935 | ||||||
r = .062935 | ||||||
r = 6.29%. | ||||||
3) | 185382 = 39000*((1+r)^19) | |||||
(1+r)^19 = 185382/39000 | ||||||
(1+r)^19 = 4.753385 | ||||||
1+r = (4.753385)^(1/19) | ||||||
1+r = 1.085505 | ||||||
r = .085505 | ||||||
r = 8.55%. | ||||||
4) | 531618 = 38261*((1+r)^25) | |||||
(1+r)^25 = 531618/38261 | ||||||
(1+r)^25 = 13.89451 | ||||||
1+r = (13.89451)^(1/25) | ||||||
1+r = 1.110999 | ||||||
r = .110999 | ||||||
r = 11.09%. |
All answers must be entered as formula. Solve for the unknown interest rate in each of...
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