You deposit $15,700 into an account this morning. The account pays interest at a rate of 7.1 percent per year. How much will be in your account 16 years from today?

Group of answer choices

$54,911.19

$33,535.20

$61,603.83

$51,818.31

$47,046.92

Sixty years ago, your mother invested $7,200. Today, that investment is worth $379,250.53. What is the average annual rate of return she earned on this investment?

Group of answer choices

6.83 percent

7.90 percent

5.92 percent

4.77 percent