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I need help with these Present Value/Future Value Annuity Problems. The problems are below: 1) What is the rate of interest on a $10,000 loan
I need help with these Present Value/Future Value Annuity Problems. The problems are below:
1) What is the rate of interest on a $10,000 loan that is repaid in ten equal installments of $1,917.14
2) You know you will need $25,000 at the end of five years. How much will you need to deposit annually, starting at the end of the first year into an investment account earning 10% to accumulate the needed amount?
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