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Using the known information below, solve for the unknown (NOTE: assume annual compounding): a. Solve for FV (round to nearest dollar): Present Value (PV) =
Using the known information below, solve for the unknown (NOTE: assume annual compounding):
a. Solve for FV (round to nearest dollar):
- Present Value (PV) = $50,000
- Future Value (FV) =???
- Interest rate (i) = 4.5%
- Number of periods (n) = 12 years
b. Solve for PV (round to the nearest dollar)
- PV =???
- FV = $200,000
- i = 3.0%
- n = 18 years
c. Solve for 'i' (round to nearest tenth of a percent) :
- PV = $80,000
- FV = $140,000
- i =???
- n = 10 years
d. Solve for 'n' (round to nearest whole year):
- PV = $100,000
- FV = $385,000
- i = 6.25%
- n =???
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