Future Compounding Problems: $100 into a savings account with an annual interest rate of 12 percent. A the end of 3 years, how much will his deposit be worth if interest is compounded (a) Semi-annually (b) Quarterly (c) Monthly (13) Uncle Sam won a $100,000 lottery 10 years ago. On the advice of his banker, he invested of his winnings at 12 percent compounded quarterly. How much money has Uncle Sam accumulated to date? all (14) Jack started helping Mr. Brown on his farm to earn some extra money on January 1, 1999. Every 3 months Jack deposit $300 into his savings account at the bank. It earns 8 percent interest annually but it is compounded quarterly. On December 31, 2004, on advice from his father he took all his savings and invested in a certificate of deposit at 14 percent annually. How much will Jack have on December 31, 2007? (15) An initial deposit was made into a savings account for Jim by his mother of $3,000. With an annual interest rate of 8 percent, how much money will the savings account have at the end of 5 years if interest is compounded? (a) Annually? (b) Semi-annually? (c) Quarterly