What was the annual compound rate of return on your account

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Reference no: EM131487586

1. How much money must you deposit in an account today to make annual withdrawals of $20,000 at the end of each of the next 20 years? Your account earns interest at the rate of 7.4% compounded annually.

2. If you put $2,400 into an account at the end of each year for the next 10 years, and at the end of 10 years you have $84,567 in your account, what was the annual compound rate of return on your account?

3. Compute the total present value of $300,000 two years from now and $400,000 four years from now given a 10 percent discount rate.

Reference no: EM131487586

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