Interest rates or discount rates. Fill in the interest rates for the following t

Question

Interest rates or discount rates. Fill in the interest rates for the following table using one of the three methods below FV) n PV a. Use the interest rate formula, r b. Use the TVM keys from a calculator c. Use the TVM function in a spreadsheet. Present Value $ 597.69 $17,096.51 $34,789.19 $26,050.46 Future Value $ 1,846.43 $226,900.59 63,375.38 $217,855.75 Number of Periods 19 34 Interest Rate 13 Present Value Future Value Number of Periods Interest Rate S 597.69 $ 1,846.43 19 96 (Round to two decimal places.)

Explanation / Answer

Present value

Future value

Number of periods

Interest rate

$597.69

$1,846.43

19

6.12%

$17,069.51

$226,900.59

34

7.91%

$34,789.19

$63,375.38

22

2.76%

$26,050.46

$217,855.75

13

17.75%

Working:

Using financial calculator BA II Plus - Input details:

PV

FV

N

PMT

CPT > I/Y = Interest

$597.69

$1,846.43

19

$0.00

6.12

$17,069.51

$226,900.59

34

$0.00

7.91

$34,789.19

$63,375.38

22

$0.00

2.76

$26,050.46

$217,855.75

13

$0.00

17.75

Present value

Future value

Number of periods

Interest rate

$597.69

$1,846.43

19

6.12%

$17,069.51

$226,900.59

34

7.91%

$34,789.19

$63,375.38

22

2.76%

$26,050.46

$217,855.75

13

17.75%

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