Question 1 1.1 Define and discuss the principles of engineering economy that offers advice for making decision regarding engineering problems. (Hint: Explain as much as you can) [20%] 1.2 XYZ company deposits 70,000 in savings account today. The company intends to leave the money in the account until it grows to 125,000. If the account pays interest of 5% per year, how long will it take for savings account to have 125,000. (10%) 11.3 What is the future value in 5 years of 70,000 invested in an account with an annual interest rate of 12%? a. If compounded annually? b. If compounded semi-annually? c. If compounded monthly? d. Why does the future value increase as the compounding period shortens