Question: 1. At what per annum rate must $240 be compounded daily for it to grow to $587 in 11 years? (Round to 100th of a

1. At what per annum rate must $240 be compounded daily for it to grow to $587 in 11 years? (Round to 100th of a percent and enter your answer as a percentage, e.g., 12.34 for 12.34%) (Assume 365 days in the year)

2. Sam I Am invests $80,000 today at 10% per annum, compounded quarterly. What will the balance of Sam's investment be in 5 years? (Round your answer to the nearest penny.)

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