Calculating interest rates
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Find the interest rate implied by the following combination of present and future values:
Present Value=400, Future Value=684, Years=11
Present Value=183, Future Value=249, Years=4
Present Value=300, Future Value=300, Years=7
Please show work. Thanks!
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Solution Summary
The solution explains how to calculate interest rates, given the present value, future value and the time period.
Solution Preview
You can solve these questions by getting the present value factor and then looking up the factor in the PVIF table under the given number of years.
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