Time Value of Money - Present and Future Value
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Find Rate and Time from the following:
Present Value - 5,432, Future Value - 8,926, Time = 8, Rate = ?
PV = 69,702, FV = 104,263, R=8%, T = ?
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Solution Summary
This solution shows you how to calculate present and future value, given all variables except the rate in one instance and all variables except time in another instance.
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Hello,
For these questions, the first thing you may want to note is the formula for the present value of a future sum which is given by:
PV = FV / (1 + i) ^ n, where
1) PV or present value is the value at time=0
2) FV or future is the value at time=n
3) i is the ...
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