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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

24 years

34 years

28 years

32 years

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:

4.55%

7.83%

7.04%

3.91%

6.41%

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