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Tim Howard has been offered the opportunity of investing $ 30,066 now. The investment will...

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Accounting

Tim Howard has been offered the opportunity of investing $ 30,066 now. The investment will earn 9% per year and at the end of that time will return Tim $65,300.

How many years must Tim wait to receive $ 65,300? (Hint: Use Table 3.)

Joanne Quick made an investment of $ 26,223.08. From this investment, she will receive $ 2,700 annually for the next 15 years starting one year from now.

What rate of interest will Joannes investment be earning for her? (Hint: Use Table 4.)

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