First City Bank pays 6.5% simple Interest on its savings account balances, whereas Second City Bank pays 6.5% interest compounded annually. If you made a deposit of $11, 700 In each bank, how much more money would you earn from your Second City Bank account at the end of 10 years? At 9.0% percent Interest, how long does It take to quadruple your money In 2000, an 1880-0 Morgan silver dollar sold for $11, 200. What was the rate of return on this investment? You're trying to save to buy a new $116,000 Ferrari. You have $48, 400 today that can be invested at your bank. The bank pays 6.2% annual interest on its accounts. How long will it be before you have enough to buy the car? You have $16, 100 you want to invest for the next 40 years. You are offered an investment plan that will pay you 9.6% per year for the next 20 years and 11 percent per year for the last 20 years. How much will you have at the end of the 40 years? Investment X offers to pay you $4, 140 per year for nine years, whereas Investment Y offers to pay you $5, 730 per year for five years. If the discount rate is 6 percent, by how much is the present value of X higher than that of Y