Please answer all questions and show work for every question. Provide detailed explanations, step by step break downs for explanation, written explanations, etc. Please Write neatly, circle final answers, and circle final written explanations, I definitely will leave a great rating! Please write on paper do not type the answer must be physically written out and don't respond if you already have answered.

For the following problems, write the equation that is relevant to solve the problem, the values of the variables that you will use in that equation, and a complete sentence stating what your answer to the question is. Your answer must include appropriate units 1. Five and a half years ago, Elena invested $20,000 in a retirement fund that grew at a rate of 2.96% compounded continuously. What is the investment worth today? What was the interest earned for that investment so far? 2. How long will it take for an investment with an annual rate of 2.85% compounded quarterly to double in value? (Doubling time). How long will it take for the same investment to quadruple in value? 3. Bank A offers a loan with an annual interest rate of 42% compounded quarterly. Bank B offers a loan with an annual interest rate of 4.18% compounded continuously. Use the APY to determine which bank offers a better deal. 4. American Express's online banking division offers a money market account with an APY of 2.243%. If interest is compounded monthly, what is the equivalent annual interest rate? 5. The parents of a young child want to establish a sinking fund for her college education. If they estimate that they will need $150,000 in 12 years, how much should they pay monthly at 2.3% to reach that amount? How much interest will this investment generate