You invested $20,000 5 years ago into an account. The amount in the account is now $45,000.
        a. What was your annual return each year if compounding occurred annually?
        b. What was your annual return each year if compounding occurred quarterly?
        c. What was your annual return each year if compounding occurred monthly?
 

 You have $10,000 to invest today and want to have $15,000 in 3 years.
          a. What annual return do you need to make to reach your goal if compounding is annual?
          b. What annual return do you need to make to reach your goal if compounding is semiannual?

Answer rating: 100% (QA)

a To calculate the annual return if compounding occurred annually you can use the formula for compound interest A P1 rn Where A Final amount 45000 P I... View the full answer