To buy a laptop computer, Aline wants to borrow $2000 for 3 years. She lives near two banks. The first bank offers the amount with a 5% simple interest rate. 1. How much interest will she pay at the end of the third year at an annual simple interest rate of 5%? 2. Compute the future value. The second bank offer the amount with a 6% interest rate compounded annually. 3. How much will Aline pay at the end of the third year? 4. Which offer is better? Justify. 1. Rami decided to invest $9,000 in his account. After 16 years, the amount of money turned to be 1. Rami decided to invest $9,000 in his account. After 16 years, the amount of money turned to be $17,118. Find the interest rate required for this change. Assume quarterly compounding. 2. A couple just had a new child. How much should they invest now at 6.25%, compounded daily to have $100,000 for the child's education 17 years from now? A firm decided to increase its output from its current level of 60,000 to 70,000. Assume that the compounded interest required to achieve this growth is 10%. Find the number of years needed to reach the required output