Question 1. (22 points) A savings account earns interest at a rate of 1% compounded quarterly. (i) What is the annual growth factor for this account? (ii) Is the annual interest rate on this account less than, equal to or greater than 4% per year? (Circle your answer). (iii) Give the formula for the equivalent continuous interest rate of this account. (iv) Give the formula for the number of years for a deposit in this account to double in value. Do you expect it to be less than, equal to or greater than 20 years? (Circle your answer). (v) Suppose that you deposit $2,000 in a savings account and after 6 months the value of the account is $2,020. (a) Give the formula for the monthly interest rate r'm on this account. (b) Give the formula for the annual interest rate