MC08. 5&6

Question 5 1pts Patrick Smith has $5,000 to invest in a small business venture. His partner has promised to pay him back $8,200 in five years. What is the return that this investment earns? Which formula in B90 will calculate the answer? =RATE(B91/2,0.B89,B88)=RATE(B91,O,B89,B88) none of the answers is correct =RATE(B91,B88,B89,0) = RATE (B91,0,B88,B89) Question 6 James and Rachel Walker plan to buy a time-share in six years of $16,860. In order to have adequate funds to do so, the Walker want to make a deposit to their money market fund today. Assume that they will be able to earn an investment rate of 5.75%, compounded annually. How much will James and Rachel need to deposit today to achieve their goal? (Round off to the nearest dollar.) Which formula in B66 will calculate the answer? =FV(B68,B69,0,B67) none of the answers is correct =PV(B69,B68,0,B67) =PV(B68,B69,0,B67) =FV(B69,B68,0,B67) Question 5 1pts Patrick Smith has $5,000 to invest in a small business venture. His partner has promised to pay him back $8,200 in five years. What is the return that this investment earns? Which formula in B90 will calculate the answer? =RATE(B91/2,0.B89,B88)=RATE(B91,O,B89,B88) none of the answers is correct =RATE(B91,B88,B89,0) = RATE (B91,0,B88,B89) Question 6 James and Rachel Walker plan to buy a time-share in six years of $16,860. In order to have adequate funds to do so, the Walker want to make a deposit to their money market fund today. Assume that they will be able to earn an investment rate of 5.75%, compounded annually. How much will James and Rachel need to deposit today to achieve their goal? (Round off to the nearest dollar.) Which formula in B66 will calculate the answer? =FV(B68,B69,0,B67) none of the answers is correct =PV(B69,B68,0,B67) =PV(B68,B69,0,B67) =FV(B69,B68,0,B67)