Question 1 You want to buy a new phone, which cost $5,000. However, you only have $5,500 right now. So you decided to put $5,500 into a savings account and earn some interest in order to achieve your goal. Assuming the annual interes rate is 3% and interest is compounded daily, how long (in days) does it take for you to have enough money to buy the new phone? Mnestion 2 You decided to deposit an initial amount of $85,000 to a 4-year savings plan, which offers a 2.38% annual interest rate. Suppose you could deposit $3,000 each month to the savings plan and interest is compounded monthly, how much would you have after 4 years? You deposited $108,000 in a savings account in a bank. The balance of the account after 5 years is $138,500. Assuming interest is compounded daily, what is the annual interest rate? (ROUND THIS ANSWER TO 4 DECIMAL PLACES) When you input your answer to Moodle, ignore the % sign and round your answer to 4 decimal places, if necessary. For example, you should input 12245 if unur aneuxar is 122.4520% Question 4 (Bonus Question) A savings plan is offering a 3.85% annual interest rate. You decided to deposit a fixed a mount of $20,000 at the beginning of every month from the 2nd month onwards. Assuming your saving target in 3 years is $900,000 and interest is compounded monthly, how much is the principal