Activity 2.c - Solving for Interest Rate, Ordinary Annuity Using Tables Using provided data, solve for interest rate. Use the N value when looking up the factor in the tables. Do NOT use the annual values. Round the factor to four decimal places. Enter the interest rate as a percentage. Do not enter the interest rate as a decimal. TVM Tables (Click links to access) Future Value of $1 Present Value of $1 Future Value of an Ordinary Annuity Present Value of an Ordinary Annuity. Future Value of an Annuity Due Present Value of an Annuity Due Facts DU 1 249 GG YUIUC UI UITATCMy Duc Facts PV: $1,348,650 Payment: $30,000 Annual Interest Rate: .7858 I/Y: .0655 n: (Number of years) 5 N:(Number of compounding periods) 60 Compounded (Y): Monthly Table Method Factor PV 1 PMT = 1348650 / 30000 = 44.955 Interest Rate: = .0655 per period Annual Interest Rate: .7858 per year