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otis123

  • 4 years ago

find the interest rate paid if a deposit of 21,900.00 grows to 27,822.92 in 3 1/2 years with interest compounded semiannually round rate to nearest % and time to the nearest period

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  1. NotTim
    • 4 years ago
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    do you know the formula? Cause I think this is just plug and play

  2. otis123
    • 4 years ago
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    thats how it is in the book i have the calculater but dnt know how to put the numbers in right i think N=7 but thats all i got

  3. slaaibak
    • 4 years ago
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    A = P(1 + i(2) / 2)^7

  4. slaaibak
    • 4 years ago
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    PV = 21 900.00 FV = 27 822.92 N = 7

  5. NotTim
    • 4 years ago
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    yup. just basic algebra here!

  6. otis123
    • 4 years ago
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    but what is pmt

  7. NotTim
    • 4 years ago
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    pmt?

  8. otis123
    • 4 years ago
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    what is I%

  9. otis123
    • 4 years ago
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    27??

  10. slaaibak
    • 4 years ago
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    pmt = payment = 0

  11. slaaibak
    • 4 years ago
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    payments refer to annuities. This is a regular PV-FV question, so there are no payments. Which calculator do you have? HP12c or HP 10B2?

  12. otis123
    • 4 years ago
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    TI 84

  13. slaaibak
    • 4 years ago
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    Ah, unfortunately I've never worked on a ti calculator, so won't be able to help with calculator related problems.

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