If $2500 is placed in an investment account which pays 7% per annum, compounding annually, then the balance in the account after n years is calculated by: Select one: O a. $175n O b. $2500 x 7n O c. $2500 x 0.07" O d. $2500 x 1.07 O e. $(2500 x 1.07)"Question 3 The compound interest, to the nearest dollar, on $2300 over a period of three years at an interest rate of 5.5% per annum compounded Not yet annually is: answered Marked out of Select one: 1.00 O a. $2701 Flag question O b. $380 O c. $2680 O d. $427 O e. $401Question 1 Sandra borrows $4500 from a bank and will pay interest at the rate of 3.6% per annum, compounding monthly. Answer saved A recurrence relation that models the value of Sandra's loan after n months, Vn, is Marked out of 1.00 Select one: Flag question O a. Vo = 4500, Vn+1 = 1.003Vn O b. Vo = 4500, Vn+1 = 1.036Vm O c. Vo = 4500, Vn+1 = 1.36Vn O d. Vo = 4500, Vn+ 1 = 1 + 3.6Vn O e. Vo = 4500, Vn+ 1 = (1 + 3.6)Vn Clear my choiceSuppose that the average house price is $405 000 today. The average house price in 8 years' time if the annual inflation rate is 8% per annum is closest to: Select one: O a. $430 926 O b. $431 708 O c. $664 209 O d. $724 700 O e. $749 627