How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask SteveS Your Own Question
SteveS, MBA
Category: Homework
Satisfied Customers: 453
Experience:  MBA from Top 5 US Business School, Tutoring Experience for Over Two Years
Type Your Homework Question Here...
SteveS is online now
A new question is answered every 9 seconds

Hello. On question b on (http //

Resolved Question:

Hello. On question b on (, what is the formula used in Excel to determine the answer of 12.8719%?
Submitted: 7 years ago.
Category: Homework
Expert:  SteveS replied 7 years ago.


Here's the solution. The link will take you to an external site called Mediafire, where the Excel file is stored. Please download the file and save a copy locally on your computer. If you have any questions, please let me know. If you are satisfied with the answer, please remember to click the Accept button. Thanks.

Customer: replied 7 years ago.

I am running Excel 2003. Please help me with the solver.




Expert:  SteveS replied 7 years ago.

You need to spend $3 to view this post. Add Funds to your account and buy credits.
SteveS and other Homework Specialists are ready to help you
Customer: replied 7 years ago.
I'm still confused on how the interest rate was determined. I am working on this practical exercise and want to know the logic behind it. If you can offer an explanation, that would be great. If not, I will ask my teacher Monday morning in class. Is there an Excel formula that calculates it instead of the graph you sent me?
Customer: replied 7 years ago.
Can someone provide me the formula to use in Excel to calculate the interest rate? The example provided me using the Solver in Excel did not help. I need the actual formula.