2. You have $100 to invest for 1 year. How much interest do you earn with the options below? 2.6.02% annual interest compounded annually. Interest - N=_ PV = PMT = 0 FV= P/Y = C/Y= b. 5.9% annual interest compounded quarterly. Interest = N= PV = PMT=0 FV = P/Y = C/Y= A shortcut to finding the effective interest rate is the command Eff(nominal rate, #compounding periods). c. What is the effective interest rate on an account paying 5.85% annual interest rate compounded daily? Eff _(don't forget the % sign and 4 decimal places is enough) 3. You want to have $500 available in 4 years. If you find an account that pays 5% annual interest compounded monthly. how much needs to be deposited now? N= PV = PMT = 0 FV = P/Y = C/Y= Deposit (don't forget the $ sign and round to the nearest penny) Note - when you solve for a money quantity (PV, PMT, or FV), the TVM solver introduces a sign change to indicate money flow. When you solve for Nor I, you must change the sign of one of the money values or you will get an error. 4. If $400 is deposited today in an account earning 7% annual interest compounded weekly, how long will it take for the account to double in value? N- PV = PMT=0 FV= P/Y - C/Y - Time to double is (don't forget time units) 5. Twenty years ago you deposited $300 in an account that pays interest compounded annually. You now have $875 in the account. What annual interest rate were you paid? Note - when you solve for a money quantity (PV, PMT, or FV), the TVM solver introduces a sign change to indicare money flow. When you solve for Nor I, you must change the sign of one of the money values or you will get an error. 4. If $400 is deposited today in an account earning 7% annual interest compounded weekly, how long will it take for the account to double in value? NE 1= PV = PMT -0 FV = P/Y - C/Y= Time to double is (don't forget time units) 5. Twenty years ago you deposited $300 in an account that pays interest compounded annually. You now have $875 in the account. What annual interest rate were you paid? N= PV = PMT -0 P/Y -C/Y= Interest rate was 6. At the start of the year, your retirement account was worth $55,963. No deposits or withdrawals were made, but at the end of the year the account was worth $52,077. What was your annual interest rate on the account? N- PV = PMT-0 FV P/Y - CY- Interest rate was