If Colleen Mooney invests $3,003.34 now and she will receive $11,700 at the end of 12 years, what annual rate of interest will Colleen earn on her investment? (Hint: Use Table 3.) (Round answer to 0 decimal places, e.g. 25%.) Click here to view the factor table Future Value of 1 Click here to view the factor table Future Value of an Annuity of 1 Click here to view the factor table Present Value of 1 Click here to view the factor table Present Value of an Annuity of 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Annual rate of interest

Tim Howard has been offered the opportunity of investing $34,822 now. The investment will earn 4% per year and at the end of that time will return Tim $60,300. Click here to view the factor table Future Value of 1 Click here to view the factor table Future Value of an Annuity of 1 Click here to view the factor table Present Value of 1 Click here to view the factor table Present Value of an Annuity of 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How many years must Tim wait to receive $60,300? (Hint: Use Table 3.) (Round answer to 0 decimal places, e.g. 25.)

Tim must wait

years