what is the best way to calculate the problems below: 1. Your goal is to have...

what is the best way to calculate the problems below:

1. Your goal is to have $78,179. If you can earn 11.61% per year and you invest $16,060 today, how many years until you reach your goal?

2. An investment will pay you $4,903 in 4 years if you pay $1,729 today. What is the implied rate of return? (Convert to a decimale. Round to 2 decimal places.)

3. You are buying an investment property for $376,073 today. Through research, you have determined that the value of the property is likely to grow at a rate of 7.99% per year, on average. How long until the value of the property grows to $530,904?

4. Suppose that 2 years ago you bought an old record player at a yard sale for $8. You saw today on E-bay that the same record player is selling for $60. If you were to sell the record play at that price today, what would be the implied return percentage? (Convert to a percent. Round to 2 decimal places.

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jeff jeffy answered 1 year ago

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