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Q3(a)What is the future value of $100 after 5 years under 12 percent annual compounding? Semiannual compounding? Quarterly compounding? Monthly compounding? Daily compounding. (b) Happy

Q3(a)What is the future value of $100 after 5 years under 12 percent annual compounding? Semiannual compounding? Quarterly compounding? Monthly compounding? Daily compounding.
(b) Happy Harry has just bought a scratch lottery ticket and won 10,000. He wants to finance the future study of his newly born daughter and invests this money in a fund with a maturity of 18 years offering a promising yearly return of 6%. What is the amount available on the 18th birthday of his daughter?

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