Incorrect answer iconYour answer is incorrect.

Your brother has asked you for a loan and has promised to pay you $9,750 at the end of three years. If you normally invest to earn 5.40 percent per year, how much will you be willing to lend to your brother if you view this purely as a financial transaction (i.e., you dont give your brother a special deal)? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)

Amount to be invested today

$

Ivanhoe Corp had sales of $376,000 in 2017. If management expects its sales to be $476,450 in 3 years, what is the rate at which the companys sales are expected to grow? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to 2 decimal places, e.g. 8.72%.)

Growth rate

%