s. You deposit S 10,000 in a savings account that earns 7.5% simple interest per year. What is minimum number of years you must wait to double your balance? Suppose instead that you deposit the S10,000 in another savings account that earns 7% interest compounded yearly. How many years will it take now to double your balance? 04. You are considering investing AED.30,000 at an interest rate of 8% compounded annually for five years or investing the AED.30,000 at 9% per year simple interest for five years. Which option is better and why? f P It i N) 5. The average price of a new home is AED.1,800,000. If new home prices are increasing at a rate of 6% per year, how much will a new home cost in 10 years? Q6. What will be the amount accumulated by each of these present investments? (a) in 5 years at 6% compounded annually Break (b) $3,250 in 15 years at 5% compounded annually (c) 000 in 33 years at 8% compounded annually (d) $20,000 in 8 years at 9% compounded annually O2. A local news headline bl "Bo smith signed for s30 Million... A reading of the article revealed that on April 1, former record-breaking running back from 2010, Bo Smith, the