Question: problems 1C and 2C NOTE: 1. Set your calculator to 4 or more decimal places. You deposit $2,500 in an account. How much will you

problems 1C and 2C problems 1C and 2C NOTE: 1. Set your calculator to 4 or

NOTE: 1. Set your calculator to 4 or more decimal places. You deposit $2,500 in an account. How much will you have in 5 years if (a) it earns 124 APR, compounded semi-annually. (b) it earns 124 APR, compounded quarterly. (c) it earns 124 APR, compounded monthly. 2. What is the Effective Annual Rate for (a) 128 APR, compounded semi-annually. (b) 124 APR, compounded quarterly. (c) 124 APR, compounded monthly

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