Question
You invest $ 4,662 in an account today. You make no additional deposits into the account. One year from today there is $ 5,153 in
You invest $ 4,662 in an account today. You make no additional deposits into the account. One year from today there is $ 5,153 in the account. What is the nominal interest rate that you earned on your money? (Record your answer as a percent rounded to 1 decimal place; for example, record .527945 = 52.8% as 52.8).
Assume Bill Jones invested $ 4,778.45 into an account exactly one year ago. The account has an interest rate of 7.5 % p.a. How much does Bill have in his account today (that is, exactly one year after the initial deposit)? (Round your answer to the nearest cent and record your answer without a dollar sign and without commas. For example, record $1,356.8382 as 1356.84).
Assume Sheryl Jenkins wants to accumulate $ 13,636.44 in two years. She currently has $ 10,030.64 to invest. What interest rate must she earn on her investment (that is, if she deposits $ 10,030.64 today) to have $ 13,636.44 exactly two years from today?(Record your answer as a percent rounded to 1 decimal place; for example, record .527945 = 52.8% as 52.8).
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