Input 374.69 as the future value, -260 as the present value, and N = 4 as the term, and get I?

Question

It doens't seem like I can find an on-line financial calculator. Could anyone help me with the information I provided?

Answer 1

You cannot calculate the interest rate since the TVM formulas are not solvable for i. You will need to iterate to find the answer. Input your future value and keep changing i until you get close to your present value.

Answer 2

Is this an annuity or is the money just sitting there? How often is the interest compounded? Just 4 times, equally spaced? Then it's a simple Alg 2 problem:

260•r^4 = 374.69
r^4 = 1.4411
r = 1.0957

so the interest rate for each of the 4 compounding periods is 9.57%.

You didn't mean negative 260, did you? If so, then you've got to be making payments, and that gives you a single equation with 2 variables, which is not solvable.

Answer 3

you need to first take the derivative.