Questions Combined Formulas Name Question 5 - It is one thing to apply a formula to a situation, but it is another to know which formula to apply in the first determine which to apply and how. When solving each question below, indicate which formula you are using. place. Everything required to complete these questions is contained within questions 1 thru 4, but you must a. You invest $100 in two accounts that each pay an interest rate of 10% per year. However, one account pays simple interest and one account pays compound interest. Complete the table that compares the paid.) growth of each account over a year period. (Create a table similar to the handout comparing interest b. Suppose that you invest $1800 in an account that earns simple interest at an APR of 6.3%, Determine the accumulated balance after 5 years. e c. Suppose that you invest $168 in an account that earns interest at an APR of 5%.compounded quarterly. Determine the accumulated balance after 18 years. d. Suppose that you invest $1384 in an account that earns interest at an APR of 6.7%, compounded continuously. Determine the accumulated balance after 5 years. Bill invests $7100 in a savings account that compounds interest monthly at an APR of 4.7% Ted invests $7300 in a savings account that compounds interest annually at an APR of 4.5%. Who will have the higher accumulated balance after 5 years and after 20 years? f. Suppose that you want to have a $1,000,000 retirement fund after 30 years. How much will you need to deposit now if you can obtain an APR of 1.4%, compounded monthly? Assume that no additional deposits are to be made to the account