QUESTION $12$

You deposited $$4,000,000$ in your bank account today. You want the money to quadruple. If the bank gives you a rate of return of $43\mathrm{.}20\%$ per year? How many years will it take to reach your goal?

$3\mathrm{.}86$

$2\mathrm{.}06$

$2\mathrm{.}09$

$19\mathrm{.}16$

$6\mathrm{.}47$

QUESTION $13$

Calculate the present value of a $9\mathrm{.}0\%$ annuity due that pays $$10,723$ per year for $23$ years starting today?

$$67,051$

$$128,543$

$$111,974$

$$145,327$

$$96,037$