otis123
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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NotTim
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do you know the formula? Cause I think this is just plug and play
otis123
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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
slaaibak
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A = P(1 + i(2) / 2)^7
slaaibak
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PV = 21 900.00
FV = 27 822.92
N = 7
NotTim
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yup. just basic algebra here!
otis123
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but what is pmt
NotTim
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pmt?
otis123
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what is I%
otis123
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27??
slaaibak
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pmt = payment = 0
slaaibak
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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?
otis123
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TI 84
slaaibak
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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.