Maria received $50 on her 16th birthday, and $70 on her 17th birthday, both of which she immediately invested in the bank with interest compounded annually. On her 18th Birthday, she had 134.97 in her account. Draw a time line and calculate the annual interet rate.(adsbygoogle = window.adsbygoogle || []).push({});

How would you draw a time line for this problem?

$50__________$70______________FV

16th_________17th_____________

................................................50(1+i)^16

...........................70(1+i)^17

How do u calculate the annual interest rate?

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# Homework Help: Maria get $50 on 16th bd and $70 on 17th bd HELP

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