Ten years ago tame invested 3000 five years ago jake, Financial Management

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Ten years ago tame invested 3000 five years ago jake

Ten years ago, tame invested 3,000. Five years ago, jake invested 5,000. Today both jakes and tami's investments are each worth 9,000. Assume that both bake and tami continue to earn their respective rates of return. (1) what is annual interest rate that tami has earned? (2) what is annual interest rate that jake has earned? (3) was tami's investment worth more than jake one year ago? Why?

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Financial Management: Ten years ago tame invested 3000 five years ago jake

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