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02] (7 Marks) It is desired to borrow $1000 to meet a financial obligation. This money can be borrowed from a loan agency at a

02] (7 Marks) It is desired to borrow $1000 to meet a financial obligation. This money can be borrowed from a loan agency at a daily interest rate of 10 percent. Determine the following: 1- The total amount of principal plus the simple interest due after 2 years if no intermediate payments are made? 2- The total amount of principal plus compounded interest due after 2 years if no intermediate payments are made? 3- The nominal interest rate when the interest is compounded daily? 4. The effective interest rate when the interest is compounded daily

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