What annual rate of return must you have earned

Reference no: EM131928158

Question: 1. You invested $10600 and in 5 years it grew to $14100. What annual rate of return (APR) must you have earned. Assume annual compounding.

2. You invested $10400 and in 7 years it grew to $11400. What annual rate of return (APR) must you have earned. Assume quarterly compounding.

3. You invest $5760 in a savings account earning 3.10% with annual compounding. How many years will it take for that amount to grow to $17700. Round your answer to the nearest whole number.

4. You invest $5930 in a savings account earning 3.50% with monthly compounding. How many years will it take for that amount to grow to $19500. Round your answer to the nearest whole number.

Reference no: EM131928158

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