(3) (5) (6) (3) (3) . (a) Tommy invests $200 at 5% simple interest, paid annually, for 10 years. How much will he have at the end of 10 years? (b) Which option below would yield the greatest future value? i) increasing the term to 12 years ii) increasing the principal to $220 . Otis bought a $7500 corporate bond. The bond earns 3%, compounded monthly. After 2 years, the interest rate changed to 4.5% compounded annually. Determine the value of Otis' investment after 8 years. . April predicts that she will need $60,000 for new recording equipment in 10 years. She has found three investment options to consider: A. 6.15%, compounded semi-annually B. 5.90%, compounded daily C. 5.85%, compounded quarterly (a) How much will she need to invest for each option? (b) How much interest will she earn for each option? . Xiao is investing $10,000. She wants it to grow to $15,000 in 5 years. What annual rate of interest, compounded semi-annually, does she need to meet her goal? Round your answer to two decimal places. . Sue invested $3600 at an interest rate of 3.6%, compounded monthly. a) Estimate how long it will take for her investment to double in value. b) Using your estimated years, determine the future value of the investment. 0) How accurate was your estimate