Problem 1 Mobitel Inc. invested $670,000 in a certificate of deposit that paid a compound interest of $635640 at the end of a certain number of years with a compound interest rate estimate of 10% per year. a) Determine the number of years it will take to generate the stated compound interest b) How many years will it take Mobitel to generate the same amount of interest if it is calculated on a simple interest rate of 11 %