Question: Question 1 (5 marks) Calculate the time it will take for an investment of 10 to accumulate to 30 if we suppose: a) an effective

Question 1 (5 marks) Calculate the time it will take for

Question 1 (5 marks) Calculate the time it will take for an investment of 10 to accumulate to 30 if we suppose: a) an effective rate of interest of 12% b) an interest of 12% with simple interest. c) a discount rate of interest of 12%. Question 2 (5 marks) In return for 1000 in 5 years, Mary agrees to pay 200 now, X in 3 years and {X in 10 years. Find X if the effective interest rate is 8% for the first 3 years and 10% afterwards

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