12a-c and 13 please

12. a. Julie estimates that she will need $5000 in four years to buy her first car. She has found that she can purchase a certificate of deposit that will pay 6.5% compounded annually. How large should the certificate be to enable her to purchase the car? b. Julie finds that another bank offers a 6.25% certificate with quarterly compounding. How large does this certificate need to be? Which certifi- cate is the better investment? c. Describe precisely how the concept of present value can be used to com- pare investment options like those Julie faces. In such a comparison, does the higher or lower present value represent a better option? 13. A court settlement requires Ms. Jones to pay Mr. Murphy $4000 within six months. Ms. Jones plans to wait until the end of the six months to pay Mr. Murphy, but Mr. Murphy is anxious to settle the case and will accept less money if Ms. Jones will pay immediately. What is the least amount of money Mr. Murphy should accept for an immediate settlement? Assume an interest rate of 5% compounded monthly