1. Calculate the future worth (future value) of $2000 dollars earning an interest rate of 5.5 pct. Compounded semi-annually for 4 years.

Group of answer choices

1. $2,484.76
2. $2,226.05
3. $3,069.37
4. $2,477.65

2. You are planning to send your child to a summer camp in 9 months. The camp will cost you $2,000 at that time. You have decided to invest a lump sum of money now that will grow to $2,000 by the time it is needed. Assuming the money grows at a nominal annual interest rate of 12.2% compounded daily, how much money should you set aside now to have the funds available when needed?

Group of answer choices

1. $1,834.60
2. $1,993.99
3. $1,825.15

3. The effective rate of 8% interest rate compounded weekly is________.

Group of answer choices

1. 8.32%
2. 53.71%
3. 8.33%

Could you show the workings . Thank you .