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Find what annual rate of return did earn on the account

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Problem 1: You deposited $114 into an account 11 years ago for an emergency fund. Today, that account is worth $137. What annual rate of return did you earn on this account? Compute no other deposits, no withdrawals, and annual compounding.

Problem 2: Suppose you need $35,967 in 18 years. How much do you need to deposit today if the annual interest rate = 1.4%, but compounded monthly?

Reference no: EM132964492

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