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What is annual return on the investment

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Earnest T needs $860 for his next trip to Raleigh. He has $660 in cash. How long in years will it take the $660 cash to grow to $860 if Earnest T earns 13.5% per annum on his cash, compounded quarterly? (Enter your answers in years to 2 decimal places, e.g., 12.34)

Your rich aunt has promised to give your $7900 in 4 years. How much should you be willing to receive today (in lieu of the $7900 in 4 years) if you can earn 12% per annum, compounded semi-annually? (Round to nearest penny, e.g. 1234.56)

You bought a painting 7 years ago as an investment. You originally paid $156,000 for it. If you sold it for $485,000, what is your annual return on the investment? Assume annual compounding. (Round to 100th of a percent and enter your answer as a percentage, e.g., 12.34 for 12.34%)

Reference no: EM132576533

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