Question: PLEASE ONLY SOLVE QUESTION 2. I HAVE ALREADY SOLVED QUESTION #1 Problem #1: How many years does it take for a deposit of $1000 to

PLEASE ONLY SOLVE QUESTION 2. I HAVE ALREADY SOLVED QUESTION #1 #1: How many years does it take for a deposit of $1000

Problem #1: How many years does it take for a deposit of $1000 to reach $2300 with an annual effective interest rate of 10.3%? Problem #1: 8.4961 Answer correct to 4 decimals. Problem #2: Redo Problem #1 above, compounding for each complete year, but using simple interest for any remaining fraction of a year at the end. (This is what is actually done in practice.) Problem #2: Answer correct to 4 decimals

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