Question

1. Using excel, determine:

1. The rate of interest, k that would be earned on an investment of $ 1,865,510 to grow to $ 2,390,600 within a period of eight (8) years. Make your answer to 2 decimal places.
2. The number of years that it would take for an investment of $ 1,950,000 to grow to $ 3,000,000 at maturity assuming an interest rate of 12¹/₂%. Make your answer to 2 decimal places.
3. The present value of $22,500 received at the end of each year over a period of five (5) years discounted at the rate of 14% p.a.

Answer 1

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