Use technology and the future value formula to find i. FV=​$5,352​; PMT=​$600​; n=7​; i=​? I = _______ ​(Round to two decimal places as​ needed.)

Question

Use technology and the future value formula to find i.

FV=​$5,352​; PMT=​$600​; n=7​; i=​?

I = _______ ​(Round to two decimal places as​ needed.)

Answer 1

Technology

Calculator.net (Finance Calculator)

Set on I/Y

Input

FV=5352

N=7

Start Principal=0

PMT=600

PMT made at end of each period

I/Y=7.99% rounds to 8% = 0.08

Is that better and thanks for your input