1. Harry invests $10,000 in an account that pays 5% simple interest. How much more could he have earned over a 7-year period if the interest had compounded annually?Which one is likely to be used by the financial institutions such as banks more commonly in Canada?

2) Andrew is likely to receive $30,000 in three years. Once the cashflow is received, he will invest it for seven more years at 5.5% per year. How much will he have at the end of this time? What would be an equivalent Present Value?

3) Alisha just received $278,000 from an estate settlement. She has considered saving and investing this money for her retirement. Currently, her goal is to retire 38 years from today. How much more will she have in your account on the day she retires if she can earn generate the return of 9.5% rather than just 9.0%? Show detailed calculations according to formula and the financial calculator.