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

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12.Preston invested $19,750 in the stock market three years agowith hopes that it would grow to $40,000in eightyears. Today theinvestment is valued at $23,286. From this point forward, whatannual 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 paymentover 12 years if the interest rate is 5.75 percent?

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12.Preston invested $19,750 in the stock market three years agowith hopes that it would grow to $40,000in eightyears. Today theinvestment is valued at $23,286. From this point forward, whatannual 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 paymentover 12 years if the interest rate is 5.75 percent?