math finance

1. 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 8% simple discount. a. How much time (including the three years in the simple interest account) will be required for the original $300 to accumulate to $650. b. At what annual effective rate of compound interest would $300 accumulate to $650 in the same amount of time