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Calculating Interest Rates [LO3] Solve for the unknown interest rate in each of the following:

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Calculating Interest Rates [LO3] Solve for the unknown interest rate in each of the following:
Answered Same Day Dec 26, 2021

Solution

David answered on Dec 26 2021
128 Votes
Interest rate calculation:
Future Value = Present Value * (1+ r)
t
Where r = rate of Interest
t= time period
Thus r = (FV / PV)
1/t
-1
Calculation of Interest rate for the following scenarios:
1. FV= 297
PV = 181
t = 4 years
= (FV / PV)
1/t
-1
= (297 / 181)
1/4...
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