1) What is the value of an ordinary annuity at the end of 20 years if $16,500 is deposited each year into an account earning 8.5% compound annually? How much of this value is interest?
2) How long will it take an investment of $5000 to triple if the investment earns interest at the rate of 5 %year compounded daily?
3) What is the effective rate of money invested at 4.5% compunded semi-annuallY?