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If you use a finance calculator, be specific about which one and what you entered. For example: Future Account Balance calculator, __% APR, __ periods per year, $__ recurring deposit, $ __initial deposit, for __ years.

1. You invest $5000 in an account with an APR of 2.5%. Calculate the final balance of the account and the amount of interest earned under the following circumstances.

You invest $5000 in an account with an APR of 2.5%. The account earns simple interest for 3 years. a. How much interest will you earn altogether? (1 pt)

b. What is the final balance of the account? (0.5 pt)

You invest $5000 in an account with an APR of 2.5%. The account is compounded quarterly for 3 years.

c. What is the final balance of the account? (1 pt) d. How much interest will you earn altogether? (1 pt) 2.

Nakia plans to buy a $32,000 car. She will deposit money every month for 42 months into a savings account with an APR of 3.5% in order to reach the $32,000 goal. (1 pt) a. How much money will she need to deposit every month to meet her goal? b. How much money will she deposit altogether? (1 pt)

3. Laura invested $325 per month into a retirement plan with an APR of 2.2% for 35 years. a. How many payments will she make altogether? (0.5 pt) b. How much will she invest altogether? (1 pt) c. What will the final balance of her retirement plan be?

d. How much of the final account balance is interest? What percent of the final account balance is interest? Round to one decimal place.

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