The annual rate implied from the past and expected values

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1) 3 year(s) ago, Mack invested 5,800 dollars. In 1 year(s) from today, he expects to have 8,080 dollars. If Mack expects to earn the same annual return after 1 year from today as the annual rate implied from the past and expected values given in the problem, then how much does Mack expect to have in 5 years from today?

2) 3 year(s) ago, Omar had 129,200 dollars in his account. In 8 year(s), he expects to have 305,000 dollars. If he has earned and expects to earn the same return each year from 3 year(s) ago to 8 year(s) from today, then how much does he expect to have in 3 year(s)?

3) 3 year(s) ago, Fatima invested 5,010 dollars. In 2 year(s) from today, she expects to have 7,500 dollars. If Fatima expects to earn the same annual return after 2 year from today as the annual rate implied from the past and expected values given in the problem, then in how many years from today does she expect to have exactly 10,840 dollars? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).

Please answer all three questions and show your work

Reference no: EM131959700

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