I need full explanation of these questions, I have provided the answer and the sections from the book to use it as reference. Please use the notation that the book used and type the solution in word file so I can read clearly.

{1.3} Simple discount {1} If rnone}r grows according to simple discount at an annual rate of 5%, what is the value at time 4 of $3,460 to be paid at time 9? answer is $23315 {2) Sylvia invests her money in an account earning interest based on simple dis- count at a 2% annual rate. What is her effective interest rate in the fth year? answer is 2.22222% 1.6 Effective discount ratesiinterest in advance 1} A savings account earns compound interest at an annual effective interest rate i. Given that 112,45] = 20%. nd dug]. answer = 13.5?139% {5) Suppose you invest $300 in a fund earning simple interest at 6%. Three years later you withdraw the investment {principal and interest} and invest it in another fund earning 3% simple discount. (a) How much time [including the three years in the simple interest accouglgzall will be required for the original $300 to accumulate to $650?:::; 8' (Is) At what annual effective rate of oompound interest would $300 accumu- late to $650 in the same amount of time? answer is gauzrzas