1. Yin Li deposited $300.00 into a savings account that compounded interest monthly. What is the annual rate compounded monthly was earned on the investment if the balance was $468.40 in four years?

Answer: The nominal annual rate of interest is .% per annum compounded monthly. ( Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed)

2. If an investment of $954.00 earned interest of $154.00 at 6.6% compounded monthly, for how many years and months was the money invested? State your answer in years and months ( from 0 to 11 months )

Answer: The money was invested for . Year(s) and ..month(s).