Problem #$1$:

How many years does it take for a deposit of $$1000$

to reach $$2100$ with an annual effective interest rate

of $15\%?$

Problem #$1$:

Answer correct to $4$

decimals.

Submit Problem #$1$ for Grading

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.

Submit Problem #$2$ for Grading