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3. How many compounding periods are there if an investment last for 5 years compounded quarterly. 4. Olivia has $0.05 and for some miraculous reason
3. How many compounding periods are there if an investment last for 5 years compounded quarterly. 4. Olivia has $0.05 and for some miraculous reason it gains 50% each day. This happens for a period of 30 days. What is the total amount of money she has at the end of 30 days? 5. Riley and Andrew both invest at the prime age of 18. They both use different banks to invest with. Riley decides he can put into $9000 and the bank offers him a deal of gaining 10% in interest over 10 years compounded monthly. Andrew on the other hand decides to invest $8000 and the bank offers him a 11% return compounded bi-weekly over an 8 year span. a. How much money do they both have at the end of their term? b. Who has the most amount of money and by how much? c. Who had the biggest rate of return? 6. Mr. Garcia as an amazing plant in the classroom which was given to him by Brooklyn. The initial height of the plant when it sprouted was 2cm long. It gains 20% in height each day. After 24 days, how tall is the plant? And why is it broken now?? (If you know you know) 7. Brooklyn wants to buy a car that currently costs $18500 and has a financing rate of 1.29%. She has extra money and decides to put it towards the car. She is able to put a down payment of $2200. a. How much does she still need to pay? b. If she finances the rest using simple interest. How much does she pay in total for the car? How much in interest did she pay
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