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Home/ Questions/Solve for the unknown interest rate in each of the following: (Do not round intermediate calculations....
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Asked: April 13, 20222022-04-13T12:58:31+00:00 2022-04-13T12:58:31+00:00In: finance

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

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

Present Value Years Interest Rate Future Value
$ 160 4 % $ 192
280 18 733
31,000 19 128,034
30,261 25 350,964
♦ Relevant knowledge

The return rate on an investment is calculated by using the formula for future value. In general, the rate of interest rises by the amount of future value and decreases with the present value amount and decreases as the number of time.

interestratesolve
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    Harry Wang
    2022-04-13T12:58:33+00:00Added an answer on April 13, 2022 at 12:58 pm

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