1. Serena Willis will invest $31,800 today. She needs $159,000 in 19 years. What annual interest rate must she earn? 2.
Posted: Tue Nov 16, 2021 9:10 am
1. Serena Willis will invest $31,800 today. She needs
$159,000 in 19 years.
What annual interest rate must she earn?
2. Chris Madison needs
$353,100 in 10 years.
How much must he invest at the end of each year, at 9%
interest, to meet his needs?
3. Stacy Monroe wants to create a fund today that will
enable her to withdraw $31,300 per year for 6 years,
with the first withdrawal to take place 5 years from
today.
If the fund earns 11% interest, how much
must Stacy invest today?
$159,000 in 19 years.
What annual interest rate must she earn?
2. Chris Madison needs
$353,100 in 10 years.
How much must he invest at the end of each year, at 9%
interest, to meet his needs?
3. Stacy Monroe wants to create a fund today that will
enable her to withdraw $31,300 per year for 6 years,
with the first withdrawal to take place 5 years from
today.
If the fund earns 11% interest, how much
must Stacy invest today?