Question
You just paid $540 for a security that claims it will pay you $1,115 in 14 years. What is your annual rate of return? SET
You just paid $540 for a security that claims it will pay you $1,115 in 14 years. What is your annual rate of return? SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO 2 DECIMAL PLACES AT THE END. DO NOT ENTER THE % SIGN. IF YOUR ANSWER IS 7.7021%, FOR EXAMPLE, ENTER 7.70.
You just deposited $9,829 in an account. What is the future value in 12 years? Use a nominal rate (monthly compounding) of 10.00%. SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO 2 DECIMAL PLACES IN THE END. DO NOT ENTER THE DOLLAR SIGN. ENTER YOUR ANSWER AS A POSITIVE NUMBER.
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