1. On the day Saffron was born, her parents put 5800 into an investment account that promises to pay a fixed interest rate of 7 percent per year. How much money will she have in this account when she turns 18? Round to two decimal places.

2. At what rate must $311.25 be compounded annually for it to grow to $612.28 in 10 years? Submit your answer as a percentage and round to two decimal places.

3. How much money must he put into a bank account yielding 2.50% (compounded annually) in order to have 51,875 at the end of 13 years? Round to two decimal places.

4. Yolanda deposited 58.000 in a hank account, and 9 years later she closes out the account, which is worth SI6.000. What annual rate of interest has she earned over the 9 years? Submit your answer as a percentage and round to two decimal places.

Answer rating: 100% (QA)

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