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Today, your investing account has a balance of $28,800. You opened the account with a deposit of $9,600 and made no other contributions. If you
Today, your investing account has a balance of $28,800. You opened the account with a deposit of $9,600 and made no other contributions. If you have earned a compound annual rate of return of 4%, how long ago did you make your initial investment?
36 years
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24 years
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34 years
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28 years
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32 years
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You invested $13,000 20 years ago. Today the investment is worth $45,000. What was your compound annual rate of return on this investment?
Question 4 options:
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4.55%
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7.83%
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7.04%
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3.91%
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6.41%
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