Find the interest rate implied by the following combinations of present and future values:

a) present value $460 for 11 years, future value of $968 what is the interest rate?

b) present value of $213 for 4 years, future value of 312 what is the interest rate?

c) present value of 360 for 7 years, future value of 360 what is the interest rate?

The following are the cash flows of two projects:

year 0 Project a $(290) Project b $(290)

year 1 Project a 170. Project b 190

year 2 Project a 170. Project b 190

year 3 Project a 170. Project b 190

year 4 Project a 170

a) Calculate the NPV for both projects if the discount rate is 11%