Investment account-annual rate of return have you earned

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Reference no: EM131839767

1. You have an investment account that started with ?$ 1,000 10 years ago and which now has grown to ?$10,000. a. What annual rate of return have you earned? (you have made no additional contributions to the? account)? b. If the investment account earns 16% per year from now? on, what will the? account's value be 10 years from? now?

2. You are thinking of purchasing a house. The house costs $300,000.You have $43,000 in cash that you can use as a down payment on the? house, but you need to borrow the rest of the purchase price. The bank is offering a 30?-yearmortgage that requires annual payments and has an interest rate of 9% per year. What will be your annual payment if you sign this? mortgage?

The annual payment is ....?$ (Round to the nearest? dollar.)

Reference no: EM131839767

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