Answer the following questions:

1. Reflect and explain the phrase: "a dollar today is worth more than a dollar tomorrow."
2. Explain the difference between simple interest and compound interest. Explains in detail.
3. calculate the value that is requested for each problem. Show the formula used and the counts for each problem.

1. Jane Morrison is planning to invest $ 25,000 today in a mutual fund that provides a return of 8% compounded annually. What will the investment be worth in ten years?

2. Ramn Rivera is investing $ 7,500 in a CD from a bank that pays 6% interest compounded annually. How much will he have earned at the end of five years?

3. Mara Lebrn is considering an investment that pays 7.6% interest compounded annually. How much would you have to invest today if you expect this investment to bring you $ 25,000 in six years?

4. Elizabeth Terrier wants to accumulate $ 12,000 after 12 years. If the annual compound interest rate paid by your savings account is 9.25%, how much money would you have to deposit in your account today to reach your goal?