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What annual rate of return did you realize

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i) You open an account that earns 12% interest and start saving $1000 at the end of this year. You have the option increase your saving by 5% each year, or keep your contribution constant each year. If you do not increase your savings by 5%, how much less will you have in your account after 15 years than if you increased your contributions? Round your answer to the nearest dollar.

ii) Your brother lent you $86 five years ago. You gave him an I.O.U. to pay him back with $149 today. What was the interest rate on this loan?

iii) You deposited $750 in a mutual fund each year over the past seven years. Your account balance is $7700. What annual rate of return did you realize? Answer in percent and round to one hundredth of a percent.

Reference no: EM132238982

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