1. Adam places the annuity amount of $55 in an account at the end of each year for 15 consecutive years beginning one year from today. If the interest rate is 4%, how much will Adam have at the end?
Place your answer in dollars and cents. Do not include a dollar sign or comma in your answer. Work your analysis to at least four decimal places of accuracy
2. Qiang places the amount of $46 in a special bank account that guarantees to provide $170 in 12 years. What rate of return would Qiang earn on this opportunity?
r=?
Your answer should be in PERCENTAGE form with 2 decimal places. That is, enter your response as say 3.75 and NOT as .0375. Also, do not use a percent sign in your answer. You should work your analysis using at least four decimal places of accuracy.