the following questions: 1. Reflect and explain the phrase: "a dollar today is worth more than a dollar tomorrow". (5 points) 2. Explain the difference between simple interest and compound interest. (5 points) Part II Calculate the value that is requested for each problem. It shows the formula used and the computations for each problem. 1. Jane Morrison is planning to invest $ 25,000 today in a mutual fund that provides an 8% annual compound interest return. What will be the value of the investment in ten years? (5 points) 2. Ramn Rivera is investing $ 7,500 in a CD from a bank that pays 6% annual compound interest. How much will you have earned at the end of five years? (5 points) 3. Mara Lebrn is considering an investment that pays 7.6% annual compound interest. How much would you have to invest today if you expect this investment to generate $ 25,000 in six years? (5 points) 4. Elizabeth Terrier wants to accumulate $ 12,000 after 12 years. If the annual compound interest rate your savings account pays is 9.25%, how much money would you have to put into your account today to achieve your goal? (5 points) 5. Carolina Carlo needs to decide whether to accept a $ 17,000 bonus today or wait two years and receive $ 20,100. The annual compound interest rate at which she could invest is 6%. What should Carolina do? (5 points) 6. How much more would you earn in three years, if you invest $ 10,000 at an annual compound interest rate of 5.75%, instead of a simple interest rate of 5.75%? (5 points) 7. What would be the compound annual interest rate you would need to double your $ 1,000 investment in three years? (5 points) 8. If your bank pays you 5% annual interest, compounded monthly, how much would you have in ten years if you invest $ 1,000 today? (5 points) 9. How much would you have to deposit today in a bank account that pays 9.25% annual interest, compounded quarterly, if you expect to have $ 20,000 at the end of five years? (5 points) 10. Suppose you invested $ 2,500 in the business that a friend of yours opened and that in three years this friend returned $ 3,700. How much was the return on your investment in your friend's business? (5 points)