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Average rate of return father earned on investment

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Dale invests $500 in an account that pays 6% simple interest. How much more could he have earned over a thirty year period if the interest had compounded annually?

A. $1,471.75

B. $2,256.12

C. $1,621.25

D. $1,804.12

Please show calculations.

Thirty years ago, your father invested $6,000. Today that investment is worth $67,270.98. What is the average rate of return your father earned on this investment?

A. 11.67%

B. 8.44%

C. 10.23%

D. 8.39%

Please show calculations.

Reference no: EM133077412

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