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12. Suppose $2500 earns an interest of $250.81 in one year. What is the nominal annual rate of interest compounded annually? 13. Compute the value

12. Suppose $2500 earns an interest of $250.81 in one year. What is the nominal annual rate of interest compounded annually?

13. Compute the value of an investment 8 months before the maturity date that earns interest at 6% p.a. and has a maturity value of $884.

14. How long does it take for money to double at 5% compounded quarterly?

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