Problem
1. If £40,000 is invested at a monthly rate of 1% what will it be worth after 9 months? What is the corresponding AER?
2. A sum of £450,000 is invested at a monthly interest rate of 0.6%. What will the final sum be after 18 months? What is the corresponding AER?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.