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You opened a savings account 3 years ago with $8,000. Now the account has $30,000 in it. You have made annual deposits of $5,000 each

  1. You opened a savings account 3 years ago with $8,000. Now the account has $30,000 in it. You have made annual deposits of $5,000 each year. What annual interest rate have you earned on the past 3 years?

2. You currently have $90,000 in a savings account that earns 7% interest. You would like to make annual withdrawals of $15,000. You would also like the account balance to not fall below $25,000. How many withdrawals can you make?

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