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Given that the annual compounded interest rate is 5.75%, calculate: 5 years ago, you invested $50,000 in an investment account that earned 5.75% annual rate
Given that the annual compounded interest rate is 5.75%, calculate: 5 years ago, you invested $50,000 in an investment account that earned 5.75% annual rate of return, in addition, you invested $10,000 a year at the end of each of the 5 years. What is the value of the investment account now? What is the annual rate of return on your investment if the account has a value of $105,000? ( 4pts )
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