Question
7. A corporation invested in a property for $949,766 today. The value of the property is likely to grow at a rate of 11.74% per
7. A corporation invested in a property for $949,766 today. The value of the property is likely to grow at a rate of 11.74% per year, on average. How long until the value of the property grows to $1,618,176? 12. A real estate broker told you that a house in your neighborhood will be worth will be worth $679,707 in 17 years. If the interest rate is 13.99%, how much is it worth today? (Round to 2 decimal places.) 13. You would like to have $147,073 in 38 years to move to Europe when you retire. If you think you can earn 0.62% per month on your money, how much must you deposit today? 15. You bought a stock for 48 6 years ago. If the stock is worth $181 today, what is the implied return? (Convert to a percent. Round to 2 decimal places.) 16. You want to have $6,789 in 7 years. If you have $3,800 to invest today, what interest rate must you earn? (Convert to a percent. Round to 2 decimal places.)
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