Question: (Spreadsheet problem) In 21 years, you would like to have $230,000 to buy a vacation home. If you have only $30,000, at what rate must

(Spreadsheet problem) In 21 years, you would like to have $230,000 to buy a vacation home. If you have only $30,000, at what rate must it be compounded annually for it to grow to $230,000 in 21 years? If you have only $30,000, at what rate must it be compounded annually for it to grow to $230,000 in 21 years? 1% (Round to two decimal places.) Which Excel formula below would correctly solve this problem? (Select the best choice below.) O A =RATE(0,21,- 30000 230000) B. =RATE( - 30000,21,0,230000) OC. =RATE(21,0,- 30000,230000) OD. =RATE(21. - 30000,0,230000)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Using the densities in Appendix A, convert the heats of fusion in Table 9-1 from units of J/cm 3 to kJ/kg. Table 9-1 Values for freezing temperature, latent heat of fusion, surface energy, and...

help (230,000/70,000)*1/18-1? In 18 years, you would like to have $230, 000 to buy a vacation home. If you have only $70, 000, at what rate must it be compounded annually for it to grow to $230, 000...

In 16 years, you would like to have $240, 000 to buy a vacation home. If you have only $40, 000, at what rate must it be compounded annually for it to grow to $240, 000 in 16 years? If you have only...

In 15 years, you would like to have $250, 000 to buy a vacation home. If you have only $30,000, at what rate must it be compounded annually for it to grow to $250,000 in 15 years? If you have only...

(Spreadsheet problem in 21 years, you would like to have $230,000 to buy a vacation home. If you have only 570,000, at what rate must it be compounded annually for it to grow to $230,000 in 21 years?...

Score: 0 of 1 pt 18 of 20 (14 complete) HW Score: 48 78%, 20 of 41 pts Problem 5-35 (similar to) DU DU (Spreadsheet problem) In 21 years, you'd like to have $200,000 to buy a vacation home, but you...

(Spreadsheet problem) In 18 years, you would like to have $230,000 to buy a vacation home. If you have only $70,000, at what rate must it be compounded annually for it to grow to $230,000 in 18...

(Spreadsheet problem) In 22 years, you would like to have $270,000 to buy a vacation home. If you have only $60,000, at what rate must it be compounded annually for it to grow to $270,000 in 22...

(Spreadsheet problem) In 16 years, you would like to have $240,000 to buy a vacation home. If you have only $50,000 , at what rate must it be compounded annually for it to grow to $240,000 in 16...

8 of 19 (13 complete) This Quiz 19 pis poss (Spreadsheet problem in 16 years, you would like to have $260,000 to buy a vacation home. If you have only $40,000, at what rate must be compounded...

Jims house was damaged when lightning struck his roof. The cost to fix the home will be 30,000. He carries an HO-3 Policy with a $500 deductible. If the home is insured for $200,000 and the...

CISCO SYSTEMS INC had the following balance sheet information (in millions) at the end of July, 2014 and 2015. Total assets were $105,134.0, and $113,481.0, respectively. Total liabilities were...

In which of the following career stages do individuals devote greater time to leisure and family? 1 . establishment 2 . maintenance 3 . withdrawal 4 . advancementSelect one: 1 . establishment 2 ....

A company is preparing completing their Cash Budget. The following data has been prepared for cash receipts and payments. January February March Cash receipts $1,061,200 $1,182,400 $1,091,700 Cash...