Question: 2nd time posting, the first time didn't help at all. Please help! If you deposited $5,000 in your saving account three years ago and you

2nd time posting, the first time didn't help at all. Please help!

  1. If you deposited $5,000 in your saving account three years ago and you will collect them now as $5,955.08:
    1. What was your account interest for the past three years? Use excel sheet to show your calculations, take a snap shot and paste it in the MS Word answer document.
    2. Using the same interest rate that you calculated if you left your money in the bank how long would it take for the initial deposited amount to double?
    3. Use the tables in the back of the book to find the discount factor of an institution that provides 11% compound interest after 6 years of investment. Which institution would you prefer, this one or the first one? Why?

Use the Table below for help:

2nd time posting, the first time didn't help at all. Please help!

II.0\%

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