Question 1: An investment of $13,000 at 3% annually is compounded quarterly for 4 years. Find the future value. (1 Mark] Question 2: Amandeep borrowed $5,000 at 9% interest rate compounded semi-annually. Find the effective interest rate (1 Mark) Question 3: You need to borrow $12,000 today to pay your tuition fee. Anjali has agreed to lend you the money on the condition that you will pay him $15,000 after 4 years. What interest rate is she charging? 11 Mark] Question 4: You are planning to buy a house in the future. You know that you will need at least $50,000 as a down payment. If you deposit $30,000 in a bank account that pays 3% interest where interest is calculated on a monthly basis, how long will you have to wait before you can buy the house? [2 marks]