a) If you were to lend $500 for three years at 12% per yearsimple interest, how much interest would you get at the end ofthree years??
b) How much is accumulated over 10 years on a deposit of $1000today at 10% compounded annually?
c) If the credit card company charges nominal 24% interest onoverdue accounts, compounded daily, what is the effective interestrate? (Assume 1 year is 365 days).
d) How long will it take any invested amount of money to doubleitself, with an 11% interest rate, compounded continuously??
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