(a) Money is invested at 8%, compounded quarterly. (i) Find the equivalent Annual Percentage Rate (APR)....

 

 

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(a) Money is invested at 8%, compounded quarterly. (i) Find the equivalent Annual Percentage Rate (APR). Give your answer correct to 4 decimal places. (ii) 1000 is invested at this rate. What is its value after 2 years? Give your answer correct to the nearest 10. (b) An investor puts 2000 into an account at the beginning of each year. The interest rate is 9% annually. Find the total value of the account immediately after the 8th investment. (You may use the fact that, to 4 dp, 1.098 = 1.9926) (a) Money is invested at 8%, compounded quarterly. (i) Find the equivalent Annual Percentage Rate (APR). Give your answer correct to 4 decimal places. (ii) 1000 is invested at this rate. What is its value after 2 years? Give your answer correct to the nearest 10. (b) An investor puts 2000 into an account at the beginning of each year. The interest rate is 9% annually. Find the total value of the account immediately after the 8th investment. (You may use the fact that, to 4 dp, 1.098 = 1.9926)