Question: (a) If $1000 is invested at 5% compounded monthly, how much is there after 8 months? (b) If you want to have $1000 in 9

(a) If $1000 is invested at 5% compounded monthly, how much is there after 8 months?

(b) If you want to have $1000 in 9 months, how much do you need to place in a savings account now that pays 5% compounded quarterly?

(c) How long does it take to double your money if you can invest it at 6% compounded annually?

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