QUESTION 31 On January 1, 2000 the price of gold was $282 per ounce. On January 1,...

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Finance

QUESTION 31
On January 1, 2000 the price of gold was $282 per ounce. OnJanuary 1, 2013 the price was $1,890. What is the compound rate ofgrowth in the price of gold over this period?
21.10%
19.17%
17.18%
none of the above
QUESTION 32
What is the monthly discount factor (or present value factor) at3% for 30 years?
11.26%
19.60%
20.30%
21.33%
None of the above
Please solve both questions showing a step by stepsolution with formulas.

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4.3 Ratings (968 Votes)

31 We can compute rate of interest from relation of present value and future value as FV PV x 1r n FV Future value 1890 PV Present value 282 r Rate of See Answer

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QUESTION 31On January 1, 2000 the price of gold was $282 per ounce. OnJanuary 1, 2013 the price was $1,890. What is the compound rate ofgrowth in the price of gold over this period?21.10%19.17%17.18%none of the aboveQUESTION 32What is the monthly discount factor (or present value factor) at3% for 30 years?11.26%19.60%20.30%21.33%None of the abovePlease solve both questions showing a step by stepsolution with formulas.