Question 1 [5 points] Paul invested $3,500 in a high-interest savings account for 5.5 years. Initially the interest rate was 5.75% compounded semi-annually. After 3%2 years the bank raised the interest rate on the savings account to 6.75% compounded monthly. What would the balance of the savings account be after the full 5.5 years? For full marks your answer(s) should be rounded to the nearest cent. Balance = $ 0.00 Question 2 [5 points] Chauncey takes $5,500, invests it in a 1-year GIC at 5% (simple interest), then takes all his money out of that investment and puts it back into another GIC with the same term and rate. Chauncey does that every year for a total period of 18 years. How much will he have? For full marks your answer(s) should be rounded to the nearest cent. Future value = $ 0.00 Question 3 [2 points] A trust company offers 3-year compound-interest GICs earning annual interest of 5.20% compounded semi-annually or 5.40% compounded annually. Which rate should an investor choose? The investor should choose Select one. Question 4 [5 points] Orla borrowed money from Radu and agreed to pay back $600 today and $400 in 7 years. If Orla has a lot of money available now and wants to pay back the loan today, how much money would she have to pay Radu if the loan was at 6% compounded semi-annually? For full marks your answer(s) should be rounded to the nearest cent. Full payment amount = $ 0.00