6. When Jess started working 30 years ago, she started making deposits of $250 each month into an investment account. The current value of the account is $155,000. a) How much did she invest altogether? b) What average annual interest rate, compounded monthly, did her investment earn over 30 years? (Note: use the web calculator link Section 1.5) 0) Instead of making monthly deposits, suppose that Jess had made a single deposit 30 years ago, at the same average annual interest rate and compounding frequency. How much would the deposit have had to be for it to grow to a current value of $155,000? d) Which investment, the regular payment investment or the single payment investment, would have the greater rate of return? Explain. 7. Greg and Lou both have investment portfolios. a) What is the current value of each portfolio? 0 Assume all interest has been paid for the entire time since purchase 0 All purchases were made at the beginning b) Who has the greater rate of return? Explain. Greg's portfolio: Lou's portfolio: - a 5-year $3000 GIC that earns 2.7%, - a 5-year $1000 bond that earns 2.8% compounded annually, which he simple interest, which she purchased purchased 4 years ago 4 years ago - a 5-year $1500 CSB that earns 3.05%, - a 3-year $1000 CSB that earns compounded annually, which he 2.75%, compounded semi-annually, purchased 4 years ago which she purchased 3 years ago - a savings account that earns 2.5%, - a savings account that earns 2.15%, compounded weekly for 5 years, into compounded monthly for 6 years, into which he has been making deposits of which she has been making deposits $25 each week of $125 each month