1) Solve for PMT: If N = 72; PV = 30000; FV = 0; I = .5%; what is PMT? (This would solve a problem that asked what your monthly payment would be on a 72 month loan of $30,000 at 6% annual interest rate)
2) Solve for I: If PV = -4000; PMT = 320; FV = 3500; N = 10; what is I? (This would solve a problem that asked what the rate of return is on an investment, like a bond, that made annual payments of $320 and had a final payment of $3,500 after 10 years if you paid $4,000 for the investment)