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Casey has $1,453 to invest and would like to buy a $3,485 jet-ski in 7...

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Finance

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Casey has $1,453 to invest and would like to buy a $3,485 jet-ski in 7 years. If interest is compounded annually, what interest rate will she have to receive to reach her goal? Enter your response as a percentage to two decimal places c.e. 12.34 instead of 0.1234) At an inflation rate of 9 percent, the purchasing power of $1 would be cut in half in 8.04 years. How long to the nearest year would it take the purchasing power of $1 to be cut in half if the inflation rate were only 6.5 percent? Enter the magnitude of your response to 2 decimal places (eg. 123.45)

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