You want to buy a car. The basic model costs $99,400. You dont have enough money to buy the car, dad says that he will lend you the entire amount if you sign a note saying that you will pay him $115,000 in 3 years. What is the interest rate on this loan? ***I got 5% - I saw other posts that got 4.98% I think my excel might of just rounded up

Finding an unknown i
Inputs
Years	3
Purchase Price	99400
Future Payment	115000
Output
i	5%

=PV(3,0,99400,115000)

Your wealthy relative has left you $2 million in trust you can access when youre 30 (in 6 years). If interest rates are about 5%, what is this worth to you now? Use the Principles of Spreadsheet Design to set up and solve this problem ***I got $1,492,430.79 - is that correct?

PV of a single sum
Inputs
Interest rate	0.05
Years	6
Future Payment	2,000,000
Output
Present Value	($1,492,430.79)

=PV(0.05,6,0,2000000)