Solving for Unknown Variables for Different Investment Needs Answer the requirements in the following two separate...

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Solving for Unknown Variables for Different Investment Needs Answer the requirements in the following two separate cases. • For #1, Enter the percent rounded to two digits after the decimal; enter 2.04 for 2.044% or 2.05 for 2.045%. • For #2, Enter the answer rounded to one digit after the decimal; for example, enter 1.4 for 1.44 or 1.5 for 1.45. 1. At today's date, Etna Inc. has $44,000 that is deposited in an investment account until needed. It is anticipated that $111,000 will be needed at the end of 10 years to expand manufacturing. What approximate rate of interest is required to accumulate $111,000, assuming compounding on an annual basis? 2. Visi Inc. plans an addition to its building as soon as adequate funds are accumulated. The company has estimated that the addition will cost $220,000. At today's date, $90,600 cash is available for investment, and such a fund pays 6% interest (compounded annually). How many periods would be required to accumulate the $180,000? % Solving for Unknown Variables for Different Investment Needs Answer the requirements in the following two separate cases. • For #1, Enter the percent rounded to two digits after the decimal; enter 2.04 for 2.044% or 2.05 for 2.045%. • For #2, Enter the answer rounded to one digit after the decimal; for example, enter 1.4 for 1.44 or 1.5 for 1.45. 1. At today's date, Etna Inc. has $44,000 that is deposited in an investment account until needed. It is anticipated that $111,000 will be needed at the end of 10 years to expand manufacturing. What approximate rate of interest is required to accumulate $111,000, assuming compounding on an annual basis? 2. Visi Inc. plans an addition to its building as soon as adequate funds are accumulated. The company has estimated that the addition will cost $220,000. At today's date, $90,600 cash is available for investment, and such a fund pays 6% interest (compounded annually). How many periods would be required to accumulate the $180,000? %

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1 To find the approximate rate of interest for Etna Inc FV PV1 rn 111000 440001 r10 Solve fo... View the full answer