Interest rate-future value and time in years

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Reference no: EM13929583

Solve each situation separately, where P = principal, r = interest rate t = time in years, I = interest and FV = future value

A) P = $10,800; r =6.50%; t = 7 years; I = ?

B) I = $1,550; t = 11 months; r = 7.75%; P = ?

C) P = $30,500; r = 6.75%; t = 10 years; VF = ?

D) VF = $320,000; r = 5.40% compounded monthly, t = 30 years; P = ?

Reference no: EM13929583

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