Finding the Number of Years and Interest Rate using Technology Instructions: Answer the following questions by recordin

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Finding the Number of Years and Interest Rate using
Technology
Instructions: Answer the
following questions by recording the calculator’s screen as well as
stating your conclusion in one sentence.
1. A used car costs $3
500. If a person invests half of the money now, how long would it
take until the person had the full amount? The investment offers
3.5% compounded monthly.
N=
I%=
PV=
PMT=
0
FV=
P/Y=
1
C/Y=
PMT:
END
Conclusion:
2. Currently, tuition is
around $5 000 for a three year program. If tuition doubles in ten
years, what is the rate of increase, compounded yearly?
N=
I%=
PV=
PMT=
0
FV=
P/Y=
1
C/Y=
PMT:
END