Show how to All calculations must be shown using cell references as per requirem
ID: 2614909 • Letter: S
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Show how to All calculations must be shown using cell references as per requirements.
CleaB I U Merge B29 2 COMPOUND VALUE SOLVING FOR ANNUAL RATE At what annual rate would the following lump sums have to be invested to reach the future values shown? a. $500 to grow to $1,948.00 in 12 years b. S300 to grow to $422.10 in 7 years c.$50 to grow to $280.20 in 20 years d. S200 to grow to $497.60 in 5 y 6 SOLUTION 7 a. S500 8 Invest 9 Future value 0 Number of years 1 Annual rate to grow to S1,948.00 in 12 y S500.00 S1,948.00 12 3 b. 4 Invest 5 Future value 6 Number of years 7 Annual rate S300 to grow to $422.10 in 7 y S300.00 $422.10 9 c. $50 to grow to $280.20 in 20 years 0 Invest 1 Future value 2 Number of years 3 Annual rate S50.00 S280.20 20Explanation / Answer
a.$500 to grow to $1948 in 12 years $ invest 500 future value 1948 number of years 12 =RATE(nper, pmt, pv,[fv]) annual rate 12.00% =RATE(B10,0,B8,-B9) b.$300 to grow to $422.10 in 7 years invest 300 future value 422.1 number of years 7 annual rate 5.00% =RATE(B16,0,B14,-B15) c.$50 to grow to $280.20 in 20 years invest 50 future value 280.2 number of years 20 annual rate 9.00% =RATE(B22,0,B20,-B21) d.$200 to grow to $497.60 in 5 years invest 200 future value 497.6 number of years 5 annual rate 20.00% =RATE(B28,0,B26,-B27)
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