Question: these two are related, please answer both Problem #1: How many years does it take for a deposit of $1000 to reach $3200 with an

these two are related, please answer both

these two are related, please answer both Problem #1: How many years

Problem #1: How many years does it take for a deposit of $1000 to reach $3200 with an annual effective interest rate of 11.5%? Problem #1: Answer correct to 4 decimals. Just Save Submit Problem #1 for Grading Attempt #2 Attempt #3 Attempt #4 Attempt #5 Problem #1 Attempt #1 Your Answer: Your Mark: 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 #1 Attempt #2 Attempt #3 Attempt #4 Attempt #5 Problem #2 Your Answer: Your Mark

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