Problem 5-5 Calculating the Number of Periods [LO4] Solve for the unknown number of years in...

Problem 5-5 Calculating the Number of Periods [LO4] Solve for the unknown number of years in each of the following (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.):Present Value Years Interest Rate Future Value \$490 10 % \$1,252 740 11 1,670 17,700 16 216,050 20,800 13 262,330

t = ln(FV / PV) / ln(1 + r)

t = ln(\$1,252 / \$490) / ln 1.10 = 9.84 years

t = ln(\$1,670 / \$740) / ln 1.11 = 7.80 years

t = ln(\$216,050 / \$17,700) / ln 1.16 = 16.86 years

t = ln(\$262,330 / \$20,800) / ln 1.13 = 20.74 years

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