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Find same annual rate implied

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1.) One year ago, ZXY deposited $1,860 in an account that has earned and will earn 1.90 percent per year in compound interest. If ACB deposits $1,910 in an account today that earns simple interest, then how much simple interest per year must ACB earn to have the same amount of money in 12 years from today as ZXY will have in 12 years from today? Answer as an annual rate.

2.) Four years ago, George invested $8,400.00. Today, he has $10,900.00. If George earns the same annual rate implied from the past and current values of his investment, then in how many years from today does he expect to have exactly $31,700.00?

Reference no: EM133000289

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