3. An investor deposits $5000 in an account paying 4% interest compounded annually. Two years later she deposited $2000 into the same account. How much money was there at the end of 5 years? 4. One bank advertises an interest rate of 6.3% compounded monthly on a CD. Another bank advertises an interest rate of 6.25% compounded continuously. Find the APY for each account. Round to the nearest hundredth of a percent. Which bank will pay more interest in one year on your deposit? 5. You have accumulated $500,000 in your retirement account. You now retire and plan to withdraw only the interest earned each year as a salary for yourself. a) The account pays 4% interest compounded quarterly. How much will you that salary be? Round to nearest dollar b) The account pays 4% interest compounded continuously. How much will you that salary be? Round to nearest S. 6. Your car needs repair, and Uncle Vinny has offered to pay for the repairs. However, Uncle Vinny expects to be paid back. He loans you $1150 at 3% annual simple interest. He wants his money back in 6 months (note this is a fraction of a year). How much interest will you pay to Uncle Vinny?