Question: Show all work 1. Alex bought a camera for $15,000 five years ago and it is now worth $30,000. What annualized rate of return Alex

Show all work

1. Alex bought a camera for $15,000 five years ago and it is now worth $30,000. What annualized rate of return Alex earned on his investment?

2a.) Jack has dreams of being a millionaire someday. His dad gave him $600,000 to start. If he invests this gift at 8% compounded annually, in how many years will he be a millionaire?

2b.) If jack instead invests his dad's gift of $600,000 more aggressively at a rate of return of 11% compounded annually, how much money will he have in 10 years?

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