Question: Checkpoint #13 - Simple Interest E 1. Mark deposits $2000 in a GIC for 5 years. The GIC earns 1.5% simple interest. a) How much

Checkpoint #13 - Simple Interest E 1. Mark deposits $2000 in a GIC for 5 years. The GIC earns 1.5% simple interest. a) How much interest does the GIC earn in 1 year? b) What is the total interest earned in 5 years? 2. Sam invests $5000 for 18 months in an account that earns 2.6% simple interest per year. What amount will Sam receive when the investment matures? Checkpoint #14 - Compound Interest E 1. Steve spent $1800 on new furniture. The furniture company charged him 25% interest, compounded monthly. If Steve takes 2 years to pay off the loan, how much will he pay in total, including interest? 2. You won the lottery! You won 52 000 000! You decide to invest $1 500 000 of your winnings into a high-interest savings account. This account pays 2.5% interest, compounded semi-annually. How much money will you have in 25 years

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