Question: supposed to get the answer then say why the problems are similar. thank you ! At what per annum rate must $308 be compounded monthly

supposed to get the answer then say why the problems are similar.

thank you ! supposed to get the answer then say why the problems are

similar. thank you ! At what per annum rate must $308 be

At what per annum rate must $308 be compounded monthly for it to grow to $623 in 9 years? (Round to 100th of a percent and enter your answer as a percentage, e.g. 12.34 for 12.34%) Answer: Your rich aunt has promised to give your $2700 in 6 years. How much should you be willing to receive today (in lieu of the $2700 in 6 years) if you can earn 9% per annum, compounded semi-annually? (Round to nearest penny, e.g. 1234.56)

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