How many years would it take an investment

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Reference no: EM131449444

1. How many years would it take an investment of $983 to grow to $33813 at an annual rate of return of 11%? (Show your answer to the nearest tenth. DO NOT round until after all calculations have been completed and you have reached your final answer. If your answer ends in a zero, only include 1 decimal place and omit the zero. If the answer ends in two zeros after rounding, do not use any decimal places as ANGEL does not recognize the ".00" endings and will remove points from your score.)

Number of years =

2. How much money would you need to deposit today at 20% annual interest compounded monthly to have $5944 in the account after 9 years? (Show your answer to the nearest cent.)

Amount needed today =

Reference no: EM131449444

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