1. You borrow $2000 for 2 years at an interest rate of 12% per year. At the end of 2 years, how much money will you have to pay back if the interest is: a) Compounded annually b) Compounded quarterly c) Compounded monthly d) Compounded daily 2. A debt of $5000 can be repaid, with interest of 8% per year compounded annually, by the following payments at the end of each year: Year Payment $500 $1000 $1500 3