Hana deposited the $1,000 into the bank for 5 years. The bank pays 3% interest on the deposits

.1). What will be the value of Hana's deposit 5 years from now?

2) Had the bank used simple instead of compound interest, would Hana have more or less money 5 years from now? Why?

3. )Had the bank paid a 4% interest rate, would Hana have more or less money 5 years from now? Why?

4.) Is Hana's investment an example of an annuity? Explain.

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