Question: ME: Written Homework 16 - Simple and Compound Interest 1. How much should you deposit into an account that pays 3.6% compounded monthly if you

ME: Written Homework 16 - Simple and Compound Interest 1. How much should you deposit into an account that pays 3.6% compounded monthly if you want to have $15,000 ten years from now? Round your answer to the nearest cent. 2. An investment of $4,500 was deposited into an account that pays 7% annual interest. How much money will be in the account 8 years from now? Round your answer to the nearest cent. 3. An amount of $12,000 is deposited into an account with annual interest of 4.2% compounded monthly. In how many years will the amount grow to $18,000? Round your answer to two decimal places

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