1) The retirement account has $40,000 in it and earns 12% interest per year compounded monthly. At the end of every month for next twelve years you deposit $200 into account. How much will be in account at end of ten years?
2) The investment of $8215 was made into account which compounded interest monthly. At the end of fourteen years, balance in account doubled. Determine interest rate to nearest tenth of percent.
3. Compute term of the loan of $1672 at 5.3% if simple interest is $73.85.