1) What is the accumulated value of $150 invested for three years and three months when the rate of interest is 0.5% per month? The right answer is $182.21. How to you get to that figure?
2) $100 invested for two years at an interest rate of 2% per quarter. What is the difference between the compound and simple interest earned on this investment? The correct answer is $1.17. How you get this value?
3) What is the future value of £100 invested at 1% per month for five years? The correct answer is $181.67. How do you get that value?
Again, thank you in advance!!!!