Student Problem: 1- Ann wins $2500 in a cooking competition and invests the money in a 5-year CD that pays 3% interest compounded quarterly. How much money will Ann receive when she redeems the CD at the end of 5 years? Label all variables and show all work. 2- If she wanted the same payout in ten years instead, how much money would Ann had to invest 5 years ago? Label all variables and show all work.

- Student correctly identifies the formula and variables to question 1.

-Student is able to calculate money received after five years (question1).

-Student correctly identifies the formula and variables to question 2.