Question

Solve for the unknown number of years in each of the following:
**(Do not round intermediate calculations and round your
answers to 2 decimal places, e.g., 32.16.)
**

Present Value | Years | Interest Rate | Future Value | |||||||||||

$ | 750 | 9 | % | $ | 1,605 | |||||||||

2,441 | 7 | 4,200 | ||||||||||||

33,805 | 12 | 392,120 | ||||||||||||

33,500 | 19 | 213,332 | ||||||||||||

Answer #1

We use the formula:

A=P(1+r/100)^n

where

A=future value

P=present value

r=rate of interest

n=time period.

a,

1605=750*(1.09)^n

(1605/750)=(1.09)^n

Taking log on both sides;

log (1605/750)=n*log 1.09

n=log (1605/750)/log 1.09

=**8.83 years(Approx).**

b,

4200=2441*(1.07)^n

(4200/2441)=(1.07)^n

Taking log on both sides;

log (4200/2441)=n*log 1.07

n=log (4200/2441)/log 1.07

=**8.02 years(Approx).**

**c.**

392120=33805*(1.12)^n

(392120/33805)=(1.12)^n

Taking log on both sides;

log (392120/33805)=n*log 1.12

n=log (392120/33805)/log 1.12

=**21.63 years(Approx).**

**d.**

213,332=33500*(1.19)^n

(213,332/33500)=(1.19)^n

Taking log on both sides;

log (213,332/33500)=n*log 1.19

n=log (213,332/33500)/log 1.19

=**10.64 years(Approx).**

Solve for the unknown number of years in each of the following
(Do not round intermediate calculations and round your
answers to 2 decimal places, e.g., 32.16.):
Present Value
Years
Interest Rate
Future Value
$
530
8
%
$
1,166
780
12
1,975
18,100
18
314,892
21,200
14
338,250

Solve for the unknown number of years in each of the following
(Do not round intermediate calculations and round your
answers to 2 decimal places, e.g., 32.16.):
Present Value
Years
Interest Rate
Future Value
$570
8%
$1,293
820
12
2173
18500
18
343880
21600
14
363176

Solve for the unknown number of years in each of the following:
(Do not round intermediate calculations and round your answers to 2
decimal places, e.g., 32.16.) Present Value $400, $2091, $33105,
$32800 Interest Rate 12%, 10%, 15%, 22% Future Value $1255, $3850,
$388620, $202748

Solve for the unknown number of years in each of the following
(Do not round intermediate calculations and round your answers to 2
decimal places, e.g., 32.16.):
present value
years
interest rate
future value
$640
10%
$1,886
$890
11%
$2,349
$19,200
16%
$292,799
$22,300
13%
$337,837

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
$
300
4
%
$
380
420
18
1,394
45,000
19
237,520
44,261
25
703,627

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
$190
4
%
$231
310
18
854
34,000
19
148,042
33,261
25
412,862

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
$
805
4
%
$
1,561
995
5
1,898
24,000
16
150,832
79,300
19
330,815

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
$
755
6
%
$
1,461
945
7
1,798
19,000
18
145,832
74,300
21
320,815

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
$
730
5
%
$
1,411
920
6
1,748
16,500
17
143,332
71,800
20
315,815

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.) Present Value Years Interest Rate
Future Value $ 410 4 % $ 524 530 18 % 1,930 40,700 19 % 187,082
39,961 25 % 548,618

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