How much will have saved after two years

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Problem 1: Compute the annual yield (I/Y) on a 5-year, $10,000 annuity due with monthly payments of $220.24.

Select one:

a. 15%

b. 12%

c. 14%

d. 10%

e. 18%

Problem 2: You want to save for a vacation in 2 years. No money has yet been saved. You can save $300 at the end of each month in an investment account earning 6% rate of return per year, compounding monthly. How much will you have saved after 2 years? Enter dollar amount to the nearest dollar, no dollar signs or commas, e.g. 15000.

Reference no: EM133005924

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