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SE Enterprises borrowed $18,000 from its bank. SE will repay $21,879 in 4 years. What interest rate did SE incur on this loan, assuming annual
SE Enterprises borrowed $18,000 from its bank. SE will repay $21,879 in 4 years. What interest rate did SE incur on this loan, assuming annual compounding? Prepare the solution with factor tables. (Use present value and future value tables for your calculations. Use factor amounts rounded to four decimal places, X.XXXX.) (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Present Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) (Click the icon to view the Present Value of an Annuity Due table.) The interest rate that SE incurred on this loan is %. This test: 200 point(s) possible Future value of $1 Future Value of $1 AN- 13% 1.13000 1.27690 1.44290 1.63047 1.84244 14% 1.14000 1.29960 1.48154 1.68896 192541 15% 1.15000 1.32250 152088 1.74901 2.011361 16% 1.16000 1.34560 1.56090 1.81064 2.100341 17% 1.17000 1.36890 1.60161 1.87389 2.19245 18% 1.18000 1.39240 1.64303 1.93878 2.28776 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 1 1.01000|1.02000 1.03000 1.04000 1.05000 1.06000 107000 1.08000 1.09000 1.10000 1.11000 1.12000 1.02010|1.040401.06090 1.08160 1.10250 1.12360 1.14490 1.16640 1.18810 1.21000] 1.23210 1.25440 1.03030|1.06121 1.09273 1.12486] 1.15763 4.19102 1.22504 1.25971 1.29503 1.33100 1.36763 1.40493 1.04060|1.08243 1.12551 1.16986 1.21551 1.26248 1.31080 1.36049 1.41158] 1.46410 1.51807 1.57352 5 1.05101 1.10408 1.15927| 1.21665 1.27628| 1.33823 1.40255 1.46933 1.53862 1.61051 1.685061.76234 6 1.06152|1.12616 1.19405 1.26532 1.34010 1.41852 1.50073 1.58687 1.67710 1.77156] 1.87041 1.97382 7 1.07214|1.14869 1.22987 1.31593 1.40710 1.50363 1.605781.71382 1.82804 1.948721 2.076161 2.21068 8 1.08286|1.17166 1.26677| 1.36857 1.47746 1.59385 171819 1.85093 1.992561 2.14359 2.30454 247596 9 1.09369|1.19509 1.30477| 1.42331 1.55133 1.68948 1.83846 1.99900 2.17189 2.357952.55804 277308 10 1.10462|1.21899 1.34392 1.48024 1.62889 1.79085 1.96715 215892 2.36736) 2.59374 283942| 3.10585 11 1.11567 1.24337 1.38423 1.53945 1.71034 1.89830 2.10485 233164 2.58043 2.85312 3.15176] 3.47855 12 1.12683|1.26824 1.42576 1.60103 1.79586) 201220 225219 2.51817 2.81266 3.13843 3.49845 3.89598 13 1.13809|1.29361 1.46853 1.66507] 1.88565 2.13293 2.40985 2.71962 3.06580 3.45227 3.88328) 4.36349 11 1101711 2101014 512500 1721,01 1070021 22ananl 2570521 202710 2241721 2.7076nl 1007111 2.08195 2.35261 2.65844 3.00404 3.39457 2.19497 250227 2.85259 325195 3.70722 2.31306 266002 3.05902 3.51788 4.04556 243640 282622 3.27841 3.80296 4.41144 256516 3.00124 3.51145 4.10840 4.80683 269955 3.18547 3.75886 4.43545 5 23384 3.83586 4.33452 4.89801 552475 4.22623 4.81790 5.49241 4.65239 5.35025 6.15279 7 07574 5.11726 5.93603 6.885791 7 007501 562399 6.58007 769868 on0745 6.17593 728759 8 59936 10 14794 14 4210 6064251
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