Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question
Hw 3
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 $ 290 410 44,000 43,261 Years 3 189 17 20 Interest Rate % JACKSONVILLE % % % Future Value $ 345 1,253 209,290 388,485 < Prev 3 of 10 ⠀ Next >
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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 your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Present Value $ 290 410 44,000 43,261 Years 3 189 17 20 Interest Rate % JACKSONVILLE % % % Future Value $ 345 1,253 209,290 388,485 < Prev 3 of 10 ⠀ Next >
Expert Solution
Check Mark
Step 1

Future value = FV

Present value = PV

Rate of interest = r

Time period = n

FV = PV * (1+r)n

 

 

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