I. A person deposits $1000 into a savings account that earns interest at 12.25% compounded monthly. How much interest will be earned a) During the first year? b) During the second year? 2. Find the equivalent quarterly rate to i(10-12%. 3. In return for payments of $2,000 at the end of four years and $5,000 at the end of 10 years, an investor agrees to pay $3,000 immediately and make an additional payment at the end of three years. Find the amount of additional payment if interest is 6% compounded quarterly 4. Find how long $1,000 should be left to accumulate at 6% effective in order that it will amount to twice the accumulated value of another $1,000 deposit at the same time at 4% effective. 5. Find the accumulated value of $1,000 at the end of 15 years if the effective rate of interest is 5% for the first 5 years, 4.5% compounded semi-annually for the next 6 years and 6.3% simple interest for the remaining term 6, Find the present value of $5,000 to be paid at the end of 25 months at a rate of discount of 8% convertible quarterly