Fill in the interest rate for the following table a. Using the interest rate formula, r =
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a. Using the interest rate formula, r = (FV/PV)1/n 1
b. Using the time value of money keys or function from a calculator orspreadsheet.
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| Present Value | Future Value | Number of Periods | lnterest Rate S500.00 S17,335.36 S230,000.00 S35,000.00 $27,651.26 S225,000.00 $1,998.00 18 30 20 15 7 2 S63.214.00 2
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The time value of money (TVM) is the concept that the money you have in your pocket today is worth more than the same amount would be if you received it in the future because of the profit it can earn during the interim.
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