Question 1.

a) At what annual rate of compound interest will USD 4000 grow to USD 5441 after 4 years?

b) A sum of USD1000 is invested in a business that earns interest at a rate of 15% compounded annually for 5 years. Find the accumulated amount and the compound interest earned at the end of 5 years.

c) Suhaila invested a certain sum of money in an account that pays 5% compounded quarterly. The account will amount to USD 1000 in 27 months time. Calculate the original principal that was invested.