Question

Solve for the unknown number of years in each of the following (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)):

  

	Present Value			Years	Interest Rate			Future Value
	$	560			9	%		$	1,389
		810			10				1,821
		18,400			17				289,715
		21,500			15				430,258

Answer 1

Present value	Years	Rate	Future value
560	10.54	9%	1,389
810	8.50	10%	1,821
18,400	17.56	17%	289,715
21,500	21.44	15%	430,258
Future value= Present value*(1+Rate)^ years
For calculating years, you need to input different values of year in the formula to get future value as given in the question.