Consider the TVM equation: the variable r may be defined as the ...

[biggirl4568]

Consider the TVM equation: the variable r may be defined as the discount rate or the growth rate depending upon how the equation is being used.
 
  What will be an ideal response?

Question 2

Your grandfather likes to tell the story about how he started with 50 head of cattle on his ranch and grew the ranch to 1,000 head of cattle. He said My plan was simple: grow the number of head of cattle at a rate of 10 per year.
 
  Your grandfather reached his goal before he retired. How long did it take him?
  A) 18.63 years
  B) 31.43 years
  C) 25.22 years
  D) 47.65 years

[Chelseyj.hasty]

Answer to Question 1

Answer: TRUE

Answer to Question 2

Answer: B
Explanation: B) n = = = 31.43 years
MODE = END
INPUT ? 10 -50 0 1,000
KEY N I/Y PV PMT FV
CPT 31.43

[biggirl4568]

Excellent

[jordangronback]

TYSM