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Herschel Krustofski needs $10,000 in seven years. What annual rate of interest (please use two decimal places) would be required to achieve this goal if
Herschel Krustofski needs $10,000 in seven years. What annual rate of interest (please
use two decimal places) would be required to achieve this goal if he had the following
amounts to invest and made no further payments into the account?
a) $5,647
b) $4,978
c) $6,789
I have to enter into an excel spreadsheet like below:
Relevant Information | |||||
Annual Interest Rate | |||||
Periods Per Year | |||||
Number of Years | |||||
Needed Information | |||||
Present Value | PV | ||||
Future Value | FV | ||||
Payment | PMT | ||||
Rate | RATE | ||||
Number of Periods | NPER |
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