Question 1) You invest $100,000 today in an online savings account for 5 years. If the interest rate is 4% p.a., calculate the future value under each of the following scenarios:

a) Interest rates are compounded annually b) interest rates are compounded monthly

Question 2) You expect to receive $50,000 from your superannuation in 3 years from today. If the interest rate is 8% p.a., calculate the future value under each of the following scenarios:

a) interest rates are compounded annually b) interest rates are compounded quarterly