Question: 1.Occasionally a savings account may actually pay interest compounded continuously. For each deposit, find the interest earned if interest is compounded (a) semiannually, (b) quarterly,

1.Occasionally a savings account may actually pay interest compounded continuously. For each deposit, find the interest earned if interest is compounded (a) semiannually, (b) quarterly, (c) monthly, (d) daily, and (e) continuously. Use 1

year=365

days.

Principal	Rate	Time
$1049	1.6%	4 years

Principal

Rate

Time

$1049

1.6%

years

2. Find the present value for the following future amount. $1000 at 2% compounded annually for 5 years

3. The year

2018

price of a fast food meal at a certain restaurant is given below. Find the estimated future prices required to fill the blanks in the chart.

Item	2018 price	2024 price 2% inflation	2030 price 2% inflation	2024 price 9% inflation	2030 price 9% inflation
a fast food meal	$3.91	______	______	______	______

Item

2018 price

2024 price

inflation

2030 price

inflation

2024 price

inflation

2030 price

inflation

a fast food meal

$3.91

______

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