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PLEASE SHOW YOUR WORK Its taken me hours to get to this point do not want to redo. 8 years ago, Rafer invested $7,135. He
PLEASE SHOW YOUR WORK
Its taken me hours to get to this point do not want to redo.
8 years ago, Rafer invested $7,135. He has earned and will continue earning compound interest of 9.98% per year compounded annually. If Lainie invests $4,226 in 3 year from today and earns simple interest, then what simple interest rate per year must Lainie earn to have the same amount of money in 11 years from today as Rafer will have in 11 years from today? Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "\$" "", or any other formatting. Carry interim computations to at least 4 decimals. Enter percentage answers as a positive percentage \% rounded to 2 decimal places. For example 0.123456 should be enter as: 12.35 (\#\#.##) Question 12 10 pts If Bill invests $555 at 5.35% per year compounded monthly and Steve invests $1,086 at 6.81% simple interest per year, how long will it take for the first person to reach $22,120 in savings? Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "\$" "," or any other formatting. Carry interim computations to at least 4 decimals. Enter numerical answers as a positive number rounded to 2 decimal places (\#\#\#.##) Question 13 10 pts If Clare can earn 8.1% for 8 years and 2.42% after that how much will she have at the end of year 26 if she invests $6,345 today and interest is compounded annually? Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "\$" "," or any other formatting. Carry interim computations to at least 4 decimals. Enter numerical answers as a positive number rounded to 2 decimal places (\#\#\#.##)Step by Step Solution
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