Question: Lab 4 Simple and Compound Interest |5 points | Solve each of the following in Excel as demonstrated. Express all final answers in sentence form.

Lab 4 Simple and Compound Interest |5 points | Solve each of the following in Excel as demonstrated. Express all final answers in sentence form. 1.) Determine the annualinterest rate applied to a savings account if the initial deposit of $5600 grew to $6412 after 2 years and 6 months, assuming simple interest. 2.)Suppose $22,500 is invested at an annual rate of 13.67%. What is the amount after 3.75 years if compounding takes place: (a) anually (b) monthly (c) daily (d) continuously? How much interest is earned in each case? 3.) Find the present value of $45,500 due in 10 years 3 months if the annualinterest rate is 5.75% compounded quarterly. Please type your work from top to bottom starting from the left margin. MAKE SURE PAGE BREAKS ARE ENABLED. Keep everything visible as | scroll up or down (do not make me scroll right or left). Follow the SAME format as demonstrated in the example and videos shown. Make your answers to the questions CLEARLY visible. Name: Partner(s)/Tutor

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