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Problem 4-4 Calculating Interest Rates [LO 3] Solve for the unknown interest rate in each of the following ( Enter rounded answers as directed, but
Problem 4-4 Calculating Interest Rates [LO 3]
Solve for the unknown interest rate in each of the following (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16)): |
Present Value | Years | Interest Rate | Future Value | |||||||||||
$ | 745 | 4 | % | $ | 1,441 | |||||||||
935 | 5 | % | 1,778 | |||||||||||
18,000 | 16 | % | 144,832 | |||||||||||
73,300 | 19 | % | 318,815 | |||||||||||
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