Question: Please help me answer this two part question: Assume that, starting next year, you make annual deposits of $ 422 into a savings account that
Please help me answer this two part question:
Assume that, starting next year, you make annual deposits of $ 422 into a savings account that pays 5% interest. How much will you have in your account after 9 years?
Enter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. That means, for example, that if your answer is $127.5678, you must enter 127.57
B.)
You made an investment over the past year, and your nominal return was 22.9%. Over the same year, the rate of inflation was 3.2%. What was the real rate of return for this investment?
Enter your answer as a percentage, rounded to two decimals, and without the percentage sign ('%'). For example, if your answer is 0.123456, then it is equivalent to 12.35%, so you should enter 12.35 as the answer.
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