thank you very much

1. An investment Grimsby made three years ago is worth $3000 today. At the time, Grimsby "locked in" a nominal interest rate of 12% per year compounded monthly instead of choosing a variable interest rate (i.e., an interest rate that varies over time). a. How much did Grimsby initially invest three years ago? b. Plot the value of the investment (vertical axis) over the three years (horizontal axis). c. In the same plot as in part b) plot the value of the investment if Grimsby had chosen a variable interest rate over the three years. The actual interest rates for each year were: - 1% compounded monthly in the first year, - 0.5% compounded monthly in the second year, - 2% compounded monthly in the third year. d. Was it a good decision to "lock in" the interest rate