Solving for N

# Solving for N - Enter 300000, then +/-, then PV Enter 0,...

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Solving for N Mark earns \$61,067 at his firm. His salary was \$42,500 when he was hired. He figures that his annual raises have averaged 3.35%. How many years has he 1 You cannot solve for t algebraically. You can use the natural logarithm function (defined as the inverse function of the exponential function); the natural logarithm of a number x is the power to which e would have to be raised to equal x.

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Solving for N You have decided that you will sell your house, which is currently valued at \$300,000, at the point when it appreciates in value to \$450,000. If houses are appreciating at an average annual rate of 4.5% in your neighborhood, for approximately how long will you be staying 2
Solving for N You have decided that you will sell your house, which is currently valued at \$300,000, at the point when it appreciates in value 3 Solve for N Enter I/Y , then 4.5

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Unformatted text preview: Enter 300000, then +/-, then PV Enter 0, then PMT Enter 450000, then FV Enter CPT , then N 9.21 years 4 5 Comprehensive Problem Joannas Dad wants to deposit a sum of money immediately into an account that pays an annual interest rate of 9% so that her first-year college tuition costs are provided for. Currently, the average college tuition cost is \$15,000 and is expected to increase by 4% (the average annual inflation rate). Joanna just turned 6 Comprehensive Problem Joannas Dad wants to deposit a sum of money immediately into an account that pays an annual interest rate of 9% so that 7 Step 1 - Calculate the average annual college tuition cost when Joanna turns 18. Solve for FV Enter 13, then N Enter 4, then I/Y Enter 15000, then +/-, then PV Enter 0, then PMT Enter CPT , then FV...
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## This note was uploaded on 01/24/2012 for the course FIN 4260 taught by Professor Victorwakeling during the Spring '12 term at Kennesaw.

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Solving for N - Enter 300000, then +/-, then PV Enter 0,...

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