Annual rate implied from the past and expected values
Financial Management
1) 3 year(s) ago, Mack invested 5,060 dollars. In 2 year(s) from today, he expects to have 8,990 dollars. If Mack expects to earn the same annual return after 2 year from today as the annual rate implied from the past and expected values given in the problem, then how much does Mack expect to have in 7 years from today? 3) 3 year(s) ago, Fatima invested 5,320 dollars. In 2 year(s) from today, she expects to have 8,290 dollars. If Fatima expects to earn the same annual return after 2 year from today as the annual rate implied from the past and expected values given in the problem, then in how many years from today does she expect to have exactly 10,330 dollars? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).
