All answers must be entered as a formula Click OK to begin O

All answers must be entered as a formula Click OK to begin OK

Solution

1) pv =240,n=4,fv=297

fv=pv(1+r)ⁿ

297 = 240(1+r)⁴

297/240 = (1+r)⁴

1.2375^1/4 = 1+r

r = 5.47%

2)

pv =360,n=18,fv=1080

fv=pv(1+r)ⁿ

1080 = 360(1+r)¹⁸

1080/360 = (1+r)¹⁸

3^1/18= 1+r

r = 6.29%

3)pv =39000,n=19,fv=185382

fv=pv(1+r)ⁿ

185382 = 39000(1+r)¹⁹

185382/39000 = (1+r)¹⁹

4.753^1/19 = 1+r

r = 8.55%

4) pv =38261,n=25,fv=531618

fv=pv(1+r)ⁿ

531618 = 38261(1+r)²⁵

531618/38261 = (1+r)²⁵

13.894^1/25 = 1+r

r = 11.1%