What annual rate of return did you realize

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1. Your brother lent you $98 five years ago. You gave him an I.O.U. to pay him back with $131 today. What was the interest rate on this loan? answer in decimal form and round to three places

2. You deposited $900 in a mutual fund each year for the past seven years. Your account balance is $8000. What annual rate of return did you realize? Answer in percent and round to one hundredth of a percent.

3. Your goal is to save up $30000 to use as a future down payment. If you save $2149 every year in an account that earns 15% annually, how long will you be saving? Answer in years and round to two decimal places.

Reference no: EM131972374

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