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ioda
3 years ago
7

Solve for the unknown interest rate in each of the following (Do not round intermediate calculations and enter your answers as a

percent rounded to 2 decimal places, e.g., 32.16.):
Present Value Years Interest Rate Future Value
181 5 $ 317
335 17 1,080
48,000 13 185,382
40,353 30 531,618
Business
1 answer:
MissTica3 years ago
6 0

Answer:

11.86%

7.13%

19.95%

8.97%

Explanation:

interest rate = \frac{future value}{present value}}^{\frac{1}{n} }  - 1

(317/181)^ (1/5) - 1 = 11.86%

1080/335)^(1/17) - 1 = .13%

(185,382/48,000)^(1/13) - 1 = 19.95%

(531,618 / 40,353)^(1/30) - 1 = 8.97%

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