Question
Please post your work, so I can make sure to understand the problem. Thank you!! -One year ago, Pete invested $1,800. Today it is worth
Please post your work, so I can make sure to understand the problem. Thank you!!
-One year ago, Pete invested $1,800. Today it is worth $1,924.62. What rate of interest did Pete earn?
A. | 6.59 percent |
B. | 6.67 percent |
C. | 6.88 percent |
D. | 6.92 percent |
E. | 7.01 percent |
-What is the future value of $6,200 invested for 23 years at 9.25 percent compounded annually?
-A few years back, John invested $36,900. Today, that investment is valued at $214,800. How long has he owned this investment if the investment has been growing at 6 percent per year?
A. | 28.33 years |
B. | 29.98 years |
C. | 30.23 years |
D. | 31.29 years |
E. | 32.08 years |
-At 8 percent interest, how long does it take to quadruple an investment?
A. | 16.55 years |
B. | 16.64 years |
C. | 17.09 years |
D. | 18.01 years |
E. | 18.56 years |
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