Question

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

Answer 1

do you know the formula? Cause I think this is just plug and play

Answer 2

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

Answer 3

A = P(1 + i(2) / 2)^7

Answer 4

PV = 21 900.00
FV = 27 822.92
N = 7

Answer 5

yup. just basic algebra here!

Answer 6

but what is pmt

Answer 7

pmt?

Answer 8

what is I%

Answer 9

27??

Answer 10

pmt = payment = 0

Answer 11

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?

Answer 12

TI 84

Answer 13

Ah, unfortunately I've never worked on a ti calculator, so won't be able to help with calculator related problems.