a. 5. Barney lends $100,000 to John, his cousin for a total of 10 years at 5% p.a. How much does John have to pay after 10 years (if using simple interest rate)? b. How much does John have to pay after 10 years (if using compounded interest rate)? Assume that Barney lends $100,000 to John, using simple interest rate, but wants to receive the payment which is equal to that if using compounded interest. What should the interest rate be? c. 7. How long will it take for a $3,000 investment to grow to $10,000 if invested at 5% interest a. compounded annually? b. compounded quarterly? 8. You borrow money on your credit card at 17.5% p.a., compounding quarterly. What is the effective annual interest rate