Problem 5-4 Calculating Interest Rates 1. Calculate the interest rate. Calculati

Question

Problem 5-4 Calculating Interest Rates 1. Calculate the interest rate. Calculating Interest Rates-Excel HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEWVIEW Sign In Calibri 11A A Cells Editing Paste·t Clipboard A1 B 1 u·B-O .-. Alignment Number Conditional Format as Cell Formatting Table Styles Font ? G H Solve for the unknown interest rate in each of the following: Complete the following analysis. Do not hard code values in your answers Present value Years Interest rate Future value 240 360 39,000 38,261 10 18 19 25 1,080 185,382 531,618 12 14 15 16

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars a)297 = 240 (1+r/100)^4 1.2375 = (1+r/100)^4 1.0547 =1 +r/100 r = 5.47% b) 1080 = 360 (1+r/100)^18 3 = (1+r/100)^18 1.0629 = 1+r/100 r = 6.29% c) 185,382 = 39000(1+r/100)^19 4.7534 = (1+r/100)^19 1.0855 = 1+r/100 r = 8.55% d) 531618 = 38261(1+r/100)^25 13.8945 = (1+r/100)^25 1.1110 = 1 + r/100 r = 11.1%

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