Solve Problem2

Problem #1: How many years does it take for a deposit of $1000 to reach $2200 with an annual effective interest rate of 14.1%? Problem #1: 5.9775 Answer correct to 4 decimals. Just Save Submit Problem #1 for Grading Attempt #3 Attempt #4 Attempt #5 Problem #1 | Attempt #1 Your Answer: 5.2549 Your Mark: 0/2X Attempt #2 5.9775 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: | Answer correct to 4 decimals. Just Save Submit Problem #2 for Grading Attempt #3 Attempt #4 | Attempt #5 Problem #2 Your Answer: Your Mark: Attempt #1 | Attempt #2 8.5106 6.8874 0/2X 0/2x