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What is the balance after 1 year if an account containing $500 earns 6% nominal interest, compounded as follows. (a) Annually Enter the exact answer. $I:I (b) Weekly ( 52 weeks per year) Round your answer to two decimal places. m: ((2) Every minute (525,600 per year} Round your answer to two decimal places. *9 I: eTextbook and Media If you need $48,000 fourteen years from now, what is the minimum amount of money you need to deposit into a bank account that pays 2% annual interest, compounded as follows. For ease of calculation, assume there are 365 days in each of the years. (a) Annually Round your answer to two decimal places. $ I: (b) Monthly Round your answer to two decimal places. \"I: (c) Daily Round your answer to two decimal places. $ I: eTextbook and Media Save for Later Attempts: unlimited Suppose $300 was invested into one of ve bank accounts and 1' is time in yea rs. For each verbal description {iHv}, state which formulas (a)-(e} could represent it. (a}B = 300(103)4r (b) B = 300(1.06)\"2 (c) B = 300(106)2t (d) B = 300(1.12)' (e) B = 300(12)' (i) This investment earned 12% per year. compounded annually. E (iii This investment earned, on average, more than 1% each month. D (iii) This investment earned 12% per year, compounded semi-annually. E (iv) This investment earned. on average, less than 3% each quarter. (v) This investment earned, on average. more than 6 % every 6 months. : eTextbook and Media Save for Later Attempts: unlimited