Solve for the unknown interest rate in each of the following (Do not round intermediate calculations and round your final answers to 2 decimal places. (e. g., 32.16)):
Present Value Years Interest Rate Future Value
$ 330 4 % $ 422
450 18 1,571
48,000 19 266,917
47,261 25 803,425

6.34%

7.19%

9.45%

12.00%

Explanation:

FV = PV *(1+rate)^tenor

-> Rate = (FV/PV)^(1/tenor)-1

PV: $330; tenor: 4 year; FV: $422

->  Rate = (422/330)^(1/4)-1 = 6.34%

PV: $450; tenor: 18 year; FV: $1,571

-> Rate = (1571/450)^(1/18)-1 = 7.19%

PV: $48,000; tenor: 19 year; FV: $266,917

-> Rate = (266917/48000)^(1/19)-1 = 9.45%

PV: $47,261; tenor: 25 years; FV: $803,425

-> Rate = (803425/47261)^(1/25)-1 = 12.00%

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

happy to

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