Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. solve for the unknown interest rate in each of the

Solve for the unknown interest rate in each of the following: Present Value Years Interest Rate Future Value $ 805 4 % $ 1,561 995 5 1,898 24,000 16 150,832 79,300 19 330,815 --------------------------------------------------------------------- For each of...

60.1K

Verified Solution

Question

Finance

Solve for the unknown interest rate in each of thefollowing:

Present ValueYearsInterest RateFuture Value
$8054%$1,561
99551,898
24,00016150,832
79,30019330,815

---------------------------------------------------------------------

For each of the following, compute the future value: (Donot round intermediate calculations and round your answers to 2decimal places, e.g., 32.16.)
  

Present ValueYearsInterest RateFuture Value
$2,650620%$
9,453198
99,3051313
237,382293

------------------------------------------------------------------------------

Answer & Explanation Solved by verified expert
3.9 Ratings (614 Votes)
Part 1 Calculation of interest rates We need to calculate the interest rates for different given values Present value805 Years4 Future value1561 Now Future valuePresent value1interest rateNumber of years 15618051Interest rate4 15618051Interest rate4 1561805141Interest rate 1939130435141Interest rate 11800536591Interest rate 0180053659Interest rate Interest rate0180053659 or 1801 Rounded to two    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

Solve for the unknown interest rate in each of thefollowing:Present ValueYearsInterest RateFuture Value$8054%$1,56199551,89824,00016150,83279,30019330,815---------------------------------------------------------------------For each of the following, compute the future value: (Donot round intermediate calculations and round your answers to 2decimal places, e.g., 32.16.)  Present ValueYearsInterest RateFuture Value$2,650620%$9,45319899,3051313237,382293------------------------------------------------------------------------------

Other questions asked by students

Q

The human arm can be modeled as follows The object of interest should be the...

Basic Math
Q

Common information for problems 4 and 5 A 20-year loan of 150,000 is negotiated with the...

Finance
Q

How would bowel function change if the small intestine lacked villi?A Food would move through...

Biology
Q

35 A R 1502 www R 1002 www R 300 wwwww Find the resistance across...

Physics
Q

3 3 3 A sphere of radius 1 cm has potential of 8000 V The...

Physics
Q

18 10 pts Find the percent of the total area under the standard normal curve...

Basic Math
Q

What is the factored form of the trinomial below?25x +10 xy + y=0(Note: When factoring...

Basic Math
Q

What is the following quotient 9 2 4 7 9 7 14 3 36 9...

Calculus
Q

15 Find the derivative of the function g x S dz ln a b 1...

Calculus
Q

Quiz Chapter 17 HW Quiz 1 Express in simplified form 3 250 Question 2 of...

Algebra
Q

Nickel Inc. bought $100,000 of 3-year, 6% bonds as an investment on December 31, 2017...

Accounting
Q

Use the following table: Case X Case Y Case Z Cash $ 940 $ 1,470...

Accounting