Solve for the unknown interest rate in each of the following

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 297 1,080 185,382 531,618 240 360 39,000 38,261 4 18 19 25

Solution

use rate function in Excel

a 5.47% =RATE(4,0,240,-297,0)

b 6.29%

c 8.55%

d. 11.10%

d