1)

a) Find the simple interest on $ 500 at 3.85% invested for 4 years.

b) Find the final amount of $500 invested at 3.85% per year, compounded semi-annually for 4 years

2)Determine the future value of the following ordinary simple annuities.

a) monthly payments of $250 at 3.3% per year, compounded monthly for, 1 year

b) $800 deposited every 6 months for 4 years into a fund that earns 12.25% per year, compounded semi-annually