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Exercise B-4 Interest rate on an investment LO P2 Bill Padley expects to invest $16,000 for 4 years, after which he wants to receive $21,768.00.

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Exercise B-4 Interest rate on an investment LO P2 Bill Padley expects to invest $16,000 for 4 years, after which he wants to receive $21,768.00. What rate of interest must Padley earn? (PV of $1. FV of $1. PVA of $1. and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Future Value Present Value Table Factor interest Rate 96

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