Solve for the unknown interest rate in each of the following:

present value 190 years 4 future value 231

310 18 854

34000 19 148042

33261 25 412862

Expert Solution

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	Situation 1	Situation 2	Situation 3	Situation 4
PV	190	310	34000	33261
Year	4	18	19	25
FV	231	354	148042	412862

Step 1	Divide Future value by Present Value
	231/190
	1.22	1.14	4.35	12.41

Step 2	Divide 1 by No of Years
	1/4
	0.25	0.05556	0.05263	0.04

Step 3	Raise Step 1 to the power of Step 2

	1.215789^0.25
	1.05	1.01	1.08	1.11

Step 4	Substract from 1 and Muliply with 100-Step 3 Result
	5.01%	0.74%	8.05%	10.60%

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