1. You invest 10,000 today. You expect to earn an average return of 7% for the next 20 years. What is a reasonable approximation of the amount you will have in 20 years?
2. You have an account worth 5,500. You earn interest on this account at a rate of 4.25% (compounded annually) for 15 years. What is the account value at the end of 15 years?