Question
1. How much is a $10,000 investment in stock worth after 20 years if its value increases at an interest rate of 10% per year?
1. How much is a $10,000 investment in stock worth after 20 years if its value increases at an interest rate of 10% per year?
Your Answer:
2.Ten years ago, an account was opened with an investment of $4000. Its balance is now $8000. If interest was compounded annually, what interest rate was earned on the account? (Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example, enter 0.0843 instead of 8.43%)
Your Answer:
3. Pei's savings account balance is $11,000 today. Pei opened the account exactly 8 years ago with a $10,000 deposit. Pei has made no other deposits or withdrawals. What annual interest rate (compounded annually) has the account earned? (express your answer as a decimal, not as a percentage)
Your Answer
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