Question: 1. Use the compound interest formula to compute the total amount accumulated. $700for12years at3% compounded daily (use n=360) 2. Use the compound interest formula to

1. Use the compound interest formula to compute the total amount accumulated.

$700for12years at3% compounded daily (use n=360)

2. Use the compound interest formula to compute the total amount accumulated.

$3750for12years at6.5% compounded daily (use n=360)

3. Use the present value formula to determine the amount to be invested now, or the present value needed.

The desired accumulated amount is $3800after4years invested in an account with5% interest compounded annually.

4. Use the present value formula to determine the amount to be invested now, or the present value needed.

The desired accumulated amount is $20,800after15years invested in an account with5% interest compounded annually.

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