Question: please answer this manually not using excel a. A RM9000 investment is invested at a nominal annual interest rate, i(12), compounded monthly. After 8 years,

please answer this manually not using excel a. A RM9000 investment

please answer this manually not using excel

a. A RM9000 investment is invested at a nominal annual interest rate, i(12), compounded monthly. After 8 years, the investment accumulates to RM10902.94. Find i (12) (5 Marks) b. A principal of RM120 is deposited into a bank account with interest rate of 7% compounded continuously. At the same time, a principal of RM150 is deposited into a bank account with interest rate of 5% compounded annually. Find the time for the amounts in the two accounts to be equal. (10 Marks) [Total: 15 Marks]

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