5. You have $10,000 to deposit. Stanley Bank offers 7.2% per year compounded monthly (0.60% per month), while Grey Bank offers 7.2% but will only compound annually (7.2% per year). How much will your investment be worth in 3 years at each bank?

6. An investment that pays interest quarterly (every 3 months) offers to triple your money in 6 years. What is the quarterly interest rate?

7. You plan to retire in 25 years. An investment fund will pay an 7% annual return for the first 15 years and then a 5% annual return for the last 10 years. How much would you need to invest today so that your investment fund has a value of one million dollars when you retire?