QUESTION 31

On January 1, 2000 the price of gold was $282 per ounce. On January 1, 2013 the price was $1,890. What is the compound rate of growth in the price of gold over this period?

21.10%

19.17%

17.18%

none of the above

QUESTION 32

What is the monthly discount factor (or present value factor) at 3% for 30 years?

11.26%

19.60%

20.30%

21.33%

None of the above

Please solve both questions showing a step by step solution with formulas.