1. Suppose you invest $800 in a fund that earns interest at a rate of 3% convertible monthly. If you keep the money in the fund, how much will you have at the end of 15 years?
2. At a nominal annual rate of interest of j convertible quarterly, an investment of 166 today and 105 at the end of one year will accumulate to 291 at the end of the second year. Calculate j.