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Solve for the unknown interest rate 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
$ 330 4 % $ 422
450 18 1,571
48,000 19 266,917
47,261 25 803,425

Respuesta :

truonghanhduyen

Answer:

6.34%

7.19%

9.45%

12.00%

Explanation:

FV = PV *(1+rate)^tenor

-> Rate = (FV/PV)^(1/tenor)-1

PV: $330; tenor: 4 year; FV: $422

->  Rate = (422/330)^(1/4)-1 = 6.34%

PV: $450; tenor: 18 year; FV: $1,571

-> Rate = (1571/450)^(1/18)-1 = 7.19%

PV: $48,000; tenor: 19 year; FV: $266,917

-> Rate = (266917/48000)^(1/19)-1 = 9.45%

PV: $47,261; tenor: 25 years; FV: $803,425

-> Rate = (803425/47261)^(1/25)-1 = 12.00%

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