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Course: Financial Mathematics 1. How long does it take to convert a savings of $200 per month for 15 years at 16% annual effective rate

Course: Financial Mathematics 1. How long does it take to convert a savings of $200 per month for 15 years at 16% annual effective rate (AER)? a. $57,382.38 b.$ 57,382.89 c. $57,002.38 2. How much does an income of $3,400 per year for 10 years at a 3.4% annual effective rate (AER) convert into? a. $93,702.98 b. $39,702.89 c. $39.702.98

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