Question: Using Financial Formulas for each pls. Show steps also 1) On your ninth birthday, you received $300 which you invested at 5.5 percent interest, compounded
Using Financial Formulas for each pls.
Show steps also
1) On your ninth birthday, you received $300 which you invested at 5.5 percent interest, compounded annually. Your investment is now worth $756. How old are you today? (Please keep the integer only.)
2) What is the future value of $6,200 invested for 23 years at 6.25 percent compounded annually?
3) About 390 years ago, the Dutch bought all of Manhattan island from the American Indians for about $24 worth of trinkets and beads. Assuming the annual interest rate is 8.5%, how much does these $24 worth today?
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