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1. (1pt) Butcher Credit Bank is offering an interest rate of 3.65% compounded daily on its savings accounts. If you deposit $100 today, how much

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1. (1pt) Butcher Credit Bank is offering an interest rate of 3.65% compounded daily on its savings accounts. If you deposit $100 today, how much will you have in ten years? How much would you have with semiannual compounding? 2. (1pt) You plan to make monthly deposits of $100 into a retirement account that pays 12% interest compounded monthly. If your first deposit is made today, how large will your retirement account be in 40 years? 3. (1 pt) You want to buy a piece of farm equipment for $100,000 and the finance office has quoted you a 10-year loan with an APR of 6% compounded monthly to make the purchase. What will your monthly payments be? What is the effective annual rate on this loan

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