Part 1:

You bought a painting 5 years ago as an investment. You originally paid $168,000 for it. If you sold it for $342,000, what is your annual return on the investment ? Assume annual compounding . (Round to 100th of a percent and enter your answer as a percentage, e.g., 12.34 for 12.34%)

Answer :

Part 2:

You discover that you need a new laptop that costs $5,000. You charge the laptop to your credit card which charges a 17% annual interest rate. If you make no payments on the credit card for 3 years, how much will you owe on the card? Assume annual compounding . (Round to nearest penny, e.g. 1234.56)

Answer :