1 interest-on-interest consider a 1200 deposit earning 6, Ask an Expert

Finance

1. Interest-on-Interest Consider a $1,200 deposit earning 6 percent interest per year for 9 years. How much total interest is earned on the original deposit (excluding interest earned on interest)?

$64.80

$812.52

$648.00

$164.52

2. Solving for Rates What annual rate of return is earned on a $4,400 investment made in year 2 when it grows to $9,200 by the end of year 9?

44.60%

8.54%

47.83%

11.11%

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92653719

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