MCR3U1: Functions Summative Task 8: Financial Mathematics be Name: Knowledge/Understanding Communication Application Thinking /16 /7 / 10 /11 Parent/Guardian Signature: Knowledge & Understanding 1. An investment earns compound interest with an interest rate of 8.75%/a. Find n and i for each of the following situations. [4] a) The interest is compounded quarterly for a period of 24 years. b) The interest is compounded semi-annually for a period of 12.5 years. 2. Determine the future value of an investment of $10,000 compounded annually at 5%/a for 10 years. [3] 1. An investment earns compound interest with an interest rate of 8.75%/a. Find n and i for each of the following situations. [4] a) The interest is compounded quarterly for a period of 24 years. b) The interest is compounded semi-annually for a period of 12.5 years. be 2. Determine the future value of an investment of $10,000 compounded annually at 5%/a for 10 years. [3]