12.Preston invested $19,750 in the stock market three years ago with hopes that it would grow...

12.Preston invested $19,750 in the stock market three years ago with hopes that it would grow to $40,000in eightyears. Today the investment is valued at $23,286. From this point forward, what annual return would Preston need to reach his initial goal of $40,000?(Express as a percentage to the nearest hundredth)

13What is the future value of an annual $1,375 annuity payment over 12 years if the interest rate is 5.75 percent?

Expert Solution

jeff jeffy answered 10 months ago

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