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ECON 2560 (29)
Lecture

Solutions to Chapter 5

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Department
Economics
Course
ECON 2560
Professor
Norman Smith
Semester
Summer

Description
Brealey 5CE Solutions to Chapter 5NoteUnless otherwise stated assume that cash flows occur at the end of each year5Present ValueYearsFuture ValueInterest Rate111a400 11684 5114b1834249 8117c3007300 0 1To find the interest rate we rearrange the equation n1nFVPV1r to conclude that r1To use a financial calculator for a enter PV 400 FV684 PMT0 n11 and compute the interest rate 237PV 2001054001053001051904836281 259158124411Per Period Rate
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