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otis123 Group Title

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

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

    • 2 years ago
  2. otis123 Group Title
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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

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

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

    • 2 years ago
  5. NotTim Group Title
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    yup. just basic algebra here!

    • 2 years ago
  6. otis123 Group Title
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    but what is pmt

    • 2 years ago
  7. NotTim Group Title
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    pmt?

    • 2 years ago
  8. otis123 Group Title
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    what is I%

    • 2 years ago
  9. otis123 Group Title
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    27??

    • 2 years ago
  10. slaaibak Group Title
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    pmt = payment = 0

    • 2 years ago
  11. slaaibak Group Title
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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?

    • 2 years ago
  12. otis123 Group Title
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    TI 84

    • 2 years ago
  13. slaaibak Group Title
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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.

    • 2 years ago
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