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