Math Problem Statement
Solve for the unknown interest rate in each of the following; present value 180 years 5 future value 228; present value 300 years 19 future value 859; present value 33,000 year 20 future value 152,407; present value 32,261 years 30 future value 644,965.
Solution
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Math Problem Analysis
Mathematical Concepts
Compound Interest
Algebra
Exponential Growth
Formulas
Future value formula: FV = PV(1 + r)^n
Interest rate formula: r = (FV / PV)^(1/n) - 1
Theorems
Compound Interest Theorem
Suitable Grade Level
Grades 9-12
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