What is the present value of your savings account

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1. Suppose you invest $ 2,026 today to start a business. In 4 years you hope to sell this company for $ 8,865. What would be your annualized rate of return?

2. Assume that, starting next year, you put $ 662 into a savings account that pays 9 % interest every year. If you plan to do this for 12 years, what is the present value of your savings account? Round your answer to one decimal.

3. Assume that starting next year you put $ 639 into a savings account that pays 8 % interest every year. How much will you have in your account after 17 years? Round your answer to one decimal.

Reference no: EM13846175

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