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Exercise 2_no2 (FV single cash flow, finding r): Five years ago, you made a deposit of $50. The value of this deposit today is $70.13.

Exercise 2_no2 (FV single cash flow, finding r): Five years ago, you made a deposit of $50. The value of this deposit today is $70.13. What was the annual return earned on this deposit?

a.) Use the template in this problem to arrive at the answer with trial and error.

b.) Solve the problem again by solving 70.13=50*(1+r)^5 - do this by using FV function in excel

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