Question

Part 3: Interest Rate

In this part, calculate the interest rates. Use the Excel Rate function to compute the interest rates.

1. In 2018, one of the first copper pennies struck at the Philadelphia mint in 1793 was sold for $300,000. What was the rate of return on this investment? (7 Points)

2. Calculate the interest rates in the table below using the Excel Rate function. (7 Points)

Present Value	Years	Future Value	Interest Rate
$850	10	$1,380	?
$900	14	$1,750	?
$16,000	25	$142,000	?
$70,500	16	$312,500	?

Part 3:	(See https://support.office.com/en-US/article/RATE-function-9F665657-4A7E-4BB7-A030-83FC59E748CE)
E)
Nper	Pmt	PV	FV		Rate
F)
Present Value	Years	Future Value	Interest Rate
$850	10	$1,380
$900	14	$1,750
$16,000	25	$142,000
$70,500	16	$312,500