Question 16 (4 points) If you can earn 5 percent per year, compounded annually, in order…

Question 16 (4 points) If you can earn 5 percent per year, compounded annually, in order to have $2500 in 8 years, today you must invest: Your Answer: Answer units Question 17 (4 points) A bank promises you $15000 in 5 years if you deposit $1000 today. What annually compounded rate of interest is promised you? Your Answer: Answer units