1. You can earn $48 in interest on a $1,000 deposit for 8 months. If the EAR is the same regardless of the length of theinvestment, how much interest will you earn on a $1,000 depositfor:

a. 2 months.

For a 2-month, $1,000 deposit you will earn $_____(Round to the nearestcent).

b. 1 year.

For a 1-month, $1,000 deposit you will earn $_____(Round to the nearestcent).

c. 1.11.1 years.

For a 1.1-month, $1,000 deposit you will earn $_____(Round to the nearestcent).

See attached file