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1. How long does it take money to grow by 50% in an account paying 3% interest compounded monthly? Give your answer in years and
1. How long does it take money to grow by 50% in an account paying 3% interest compounded monthly? Give your answer in years and months, rounded to the nearest month. (Do by hand showing all steps.) [10 Pts) 2. How much will you have if you invest $1000 for 5 years 6 months at 4% interest compounded quarterly? (Round your answer to the nearest cent.) (10 Pts] 3. Find the price of a $5000 par value bond that matures in 10 years with an annual coupon rate of 2%. The interest rate on investments is 3% annually. All work must be done by hand, showing all steps [20 Pts)
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