# unknown number of years.Present Value Years Interest Rate Future Value \$ 250 9 % \$ 1,105

Jun 21st, 2015
Studypool Tutor
Price: \$5 USD

Tutor description

Solve for the unknown number of years in each of the following (Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16)): Present Value Years Interest Rate Future Value \$ 250 9 % \$ 1,105 1,941 7 3,700 32,805 12 387,120 32,500 19 198,212

Word Count: 166
Showing Page: 1/2
Question # 5Solve for the unknown number of years for each of the followingSolution:Formula:Future Value = Present Value * (1+r)^t(1+r)^t=Future value / Present valuet = log(Future value / Present value) / log(1+r)t = log(Future value / Present value) / log(1+r)t = log( \$ 1105/ 195) / log(1+0.09)t = log( \$ 5.6667) / log(1.09)t = 0.7533 / 0.0374t = 20.14 or approximately 20 yearst = log(Future value / Present value) / log(1+r)t = log( \$ 3700 / 2105) / log(1+0.07)t = log( \$ 1.7577) / log(1.07)t = 0.2449 / 0.0294t = 8.33 or approximately 8 yearst = log(Future value / Present val

## Review from student

Studypool Student
" all I can say is wow very fast work, great work thanks "

1826 tutors are online

### Other Documents

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors