(Related to Checkpoint 5.6) (Solving for i) At what annual interest rate, compounded annually, would $ 500 have to be invested for it to grow to $1983.24 in 14 years? Question content area bottom Part 1 The annual interest rate, compounded annually, at which $500 must be invested for it to grow to $1983.24 in 14 years is %. (Round to two decimal places.)

(Related to Checkpoint 5.4) (Present value) What is the present value of

$500

to be received

9

years from now discounted back to the present at

9

percent?

Question content area bottom

Part 1

The present value of

$500

to be received

9

years from now discounted back to the present at

9

percent is

$enter your response here.

(Round to the nearest cent.)