(21 marks) 60. A $500 investment earns 9% compounded semi-annually for 10 years. Without using the TVM Solver, calculate the final value of the investment. Show your work. (3 marks) 61. Without using the TVM Solver, calculate how much money would have to be invested today for the investment to be worth $100 000 in 9 years. The investment earns 8% compounded quarterly. Show your work. (3 marks) 62. Suppose you are given $800 to invest. In one sentence, state which type of interest-10% simple interest or 9.5% interest compounded monthly-offers the best investment for a 5-year term. Give a reason for your answer and provide accurate calculations to support your reasoning. (6 marks) 63. Rachael's parents want to set aside money for her to go to college in 10 years. They have found an investment that earns 8.5% p.a. compounded quarterly. How much will they have to invest now to have $6000 in 10 years? (6 marks) Show what values you would enter into the TVM Solver to solve this problem by creating and completing a table like the following. N 19% PV PMT Leave as 0. FV P/Y C/Y 64. Crystal deposits $850 into an account that earns interest at 6% p.a. compounded quarterly. How long will it take for her investment to grow to $1000? Show how you determined your