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Question 1. [4 Marks) Ahmed deposited $100 in saving account. If the interest calculated is compounded quarterly, the amount will become $125 after four years.

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Question 1. [4 Marks) Ahmed deposited $100 in saving account. If the interest calculated is compounded quarterly, the amount will become $125 after four years. a. Calculate the nominal rate of interest, compounded quarterly, that was earned by the deposited money in the saving account. (2 marks) b. How long it will take for $100 to 200 at an annual rate of 5% compounded quarterly? (2 marks)

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