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You make $6,000 annual deposits into a retirement account that pays an APR of 10.9 percent compounded monthly. Your first deposit will be one
You make $6,000 annual deposits into a retirement account that pays an APR of 10.9 percent compounded monthly. Your first deposit will be one year from today. How large will your account balance be in 34 years? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Account balance An investor was afraid that he would become like King Lear in his retirement and beg hospitality from his children, so he purchased grain "tithes," or shares in farm output, for 580 pounds. The tithes paid him 67 pounds per year for 33 years. What interest rate did the he receive on this investment? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. Interest rate: %
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