1. You have $5,000 in the bank comfortably earning 12% interest compounded quarterly. Your cousin needs $5,000 to buy a new car. In order to get the same total return, what interest rate r should you request from her if the money you lend her is to be compounded continuously? Exact interest rate (without using a calculator), r = (Exact answerot in decimal form) Interest rate, as a percent, rounded to 2 decimal places = 2. A favorite uncle wishes to establish a trust fund for his nephew's math education. How much should he set aside now if he wants $30,000 in 6 years from now, and interest is compounded semiannually at 10%? Exact amount (without using a calculator) = dollars (Exact answerot in decimal form) Amount, rounded to 2 decimal places = dollars 3. A favorite aunt wishes to establish a trust fund for her nephew's math education. How much should she set aside now if she wants $60,000 in 3 years from now, and interest is compounded continuously at 6%? Exact amount (without using a calculator) = dollars (Exact answerot in decimal form) Amount, rounded to 2 decimal places = dollars 4. Determine whether each statement is true or false. You have one submission for each statement. (a) $2000 invested at 2% compounded monthly earns more interest in a year than the same amount invested at 2% compounded weekly. OTrue OFalse (b) $2000 invested at 2% compounded continuously earns more interest in a year than the same amount invested at 2% compounded monthly. OTrue OFalse (c) The present value of $3000 7 years from now invested at 5% compounded monthly is less than the present value of $3000 7 years from now invested at 5% compounded continuously. OTrue OFalse (d) The present value of $3000 7 years from now invested at 5% compounded monthly is less than the present value of $3000 7 years from now invested at 5% compounded semiannually. OTrue OFalse