Question 4 a) A person deposits $3000 into a savings account that earns interest at 7,50% compounded daily. How much interest will be earned: - during the first year? - during the second year? What ist he accumulated amount oft he Investment? b) With the same investment of $3000 after 3 years compounded semiannually the bank account stands at $3860 - What was the compounded annual rate of increase? What was the compounded annual rate of increase if the account was compounding quartarly? c) How long did it take $3000 to accumulate to $3500 at j4=10% (compounded quartarly) $3000 to accumulate to $3800 at j2=12% (compounded semianually) $3000 to accumulate to $4200 at 112=16% (compounded monthly)