6) Your neighbor is asking you to invest in a venture that will double your money in 4 year(s). Compute the annual rate of return that he is promising you? (Record your answer as a percent rounded to 1 decimal place; for example, record .186982 = 18.7% as 18.7). Answer= 18.9

7) You have just deposited X dollars in your bank account that pays interest of 22 percent p.a. You discover that at the end of one year you have $ 2,593 in the account. What was X, that is, the amount of money that you deposited today? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). Ans= 2125.41

8) You want to withdraw $ 45,097 from your account at the end of one year and $ 40,367 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals? Your account pays 6 percent p.a. (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). Answer:78470.83

How to get the answer?