3.3 Use technology and the future value formula to find i. FV=​$7,426​; PMT=​$600​; n=9​; i=​?

Question

Use technology and the future value formula to find i.

FV=​$7,426​; PMT=​$600​; n=9​; i=​?

i=_______

​(Round to two decimal places as​ needed.)

Answer 1

We using Fin Solver of TI-84:

N =9,

PV = 0;

PMT = - 600;

FV = 7426

and we get i = 7.786%