1.What nominal rate compounded monthly is equivalent to 12% compounded quarterly?

2. How long will it take money to double itself if invested at 5% compounded annually?

3. How much should a person invest in a fund that will pay 9% compounded continuously

if he wishes to have $10,000 in the fund at the end of 10 years?

4. Metro Bank advertises 9.5% account that yields 9.84% annually. Find how often the

interest is compounded.

5.An amount of $1000 becomes $1608.44after 4 years compounded bimonthly. Find

the nominal interest.