Please do all two questions otherwise skip. And show all workings clearly writing

7. i) Nick is to invest $15,000 in an account for the next 8 years. What interest rate does Nick require in order to reach his target of $25,000 if the account pays interest monthly (2 marks) ii) Suppose the account paid simple interest instead. What interest rate would Nick need to reach $25,000 in the same 8-year period using simple interest? (2 marks) ii) Explain why the interest rates you calculated for simple interest and compound interest are different? Why is one lower/higher than the other? (1 mark) show all workings (if using your financial calculator, list the key values you entered) question 8. A $3000 laptop was purchased on the 8th December 2015. Construct a depreciation schedule for the laptop until the end of the 2018-19 financial year using the diminishing value method, if the effective life of a laptop is 4 years, (assume each year is 365 days). Show all workings