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1) Your grandmother invested a lump sum for you 20 years ago earning an average of 3.75% per year over that time. Today, she gave
1) Your grandmother invested a lump sum for you 20 years ago earning an average of 3.75% per year over that time. Today, she gave you the proceeds of that investment which is now worth $41,763. How much did she originally invest?
2) In 2020, you earned a base salary of $52,000. If you expect to receive 4% raises every year on January 1, what do you anticipate your earned salary will be in 2027?
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