1. RM300 was invested every month in an account that pays 10% compounded annually for 18 months.

(a) Convert the 10% annual interest rate to a monthly compounded interest rate.

(b) Using the answer from (a), calculate the amount in the account after 18 months.

(c) Calculate the interest earned.

2. Table below shows the monthly deposits that were made into an investment account by John.

Year Monthly deposit

2010 RM500

2011 RM400

2012 RM700

Find the value of his investment at the end of 2012 if the investment rate was 12% compounded monthly.