A retiree requires an annual income of at least $9000 from an investment paying 7.5% annual interest. How much should the retiree invest to achieve the desired return?

How do you calculate an annual rate of return?

You have $10,000 you want to invest. Your bank has several investment accounts tochoose from, all compounding daily. Your goal is to have $15,000 in 6 years. To thenearest hundredth of a percent, what is the minimum annual interest rate the account must have so you can reach your goal?

if the rate of compound interest on a special account for the first, second and third year is 8%, 10% and 15% respectively, find the total value of a $12,000 investment in 3 years.