Problem #1: How many years does it take for a deposit of $1000 to reach $2500 with an annual effective interest rate of 12.3%? Problem #1: 7.8988 Answer correct to 4 decimals. Just Save Submit Problem #1 for Grading Attempt #1 Attempt #2 Attempt #3 Attempt #4 Attempt #5 Problem #1 Your Answer: Your Mark: 7.8988 2/2 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: 7.8934 Answer correct to 4 decimals. Just Save Submit Problem #2 for Grading Attempt #5 Problem #2 Your Answer: Your Mark: Attempt #1 12.1951 0/2X Attempt #2 0.8934 0/2X Attempt #3 2501.4860 Attempt #4 7.8934 0/2X 0/2X