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Exercise 5-5 (Algo) Solving for unknowns; single amounts (LO5-4] For each of the following situations involving single amounts, solve for the unknown. Assume that interest
Exercise 5-5 (Algo) Solving for unknowns; single amounts (LO5-4] For each of the following situations involving single amounts, solve for the unknown. Assume that interest is compounded annually. (i= interest rate, and n= number of years) (FV of $1, PV of $1, FVA of $1. PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answers to nearest whole dollar amount.) n i 11.0% 1. 11 2. 15 Present Value Future Value $ 66,000 $ 44,421 $ 80,000 $ 11,637 $ 46,500 $ 41,559 $ 165,000 $ 24,321 3. 8.0% 4. 16 5. 6.0% 12
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