It is desired to borrow $1000 to meet a financial obligation. This money can be borrowed from a loan agency at a monthly interest rate of 2 percent. Determine the following: [4] 1. The total amount of principal plus simple interest due after 2 years if no intermediate payments are made. 2. The total amount of principal plus compounded interest due after 2 years if no intermediate payments are made. 3. The nominal interest rate when the interest is compounded monthly. 4. The effective interest rate when the interest is compounded monthly