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Solve for the unknown interest rate in each of the following: (Do not round intermediate calculations...

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Finance

Solve for the unknown interest rate in each of the following:(Do not round intermediate calculations and enter youranswers as a percent rounded to 2 decimal places, e.g.,32.16.)

Present ValueYearsInterest RateFuture Value
$7854%$1,521
97551,858
22,00016148,832
77,30019326,815

Answer & Explanation Solved by verified expert
4.4 Ratings (1057 Votes)
1Information provided Present value 785 Future value 1521 Time 4 years Interest rate is calculated by computing the yield to maturity The yield to maturity is calculated by entering the below in a financial calculator PV 785 FV 1521 N 4 Press the CPT key and IY to compute the yield to maturity The    See Answer
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Transcribed Image Text

Solve for the unknown interest rate in each of the following:(Do not round intermediate calculations and enter youranswers as a percent rounded to 2 decimal places, e.g.,32.16.)Present ValueYearsInterest RateFuture Value$7854%$1,52197551,85822,00016148,83277,30019326,815

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