Please to slove the following questions;
1. Sunny Borrowed $90 000 in a bank at an interest rate of 3.6% p.a.. If
the interest is compounded monthly, find the amount and compound
interest after 10 months.
2. Mr. Lee deposited some money for 3 years and earned interest of
$3152.5 . The interest rate was 5% p.a. compounded yearly. Find
the principal.
3. Suppose that the interest is compounded quarterly. Find the difference
between the simple and compound interest on $40,000 deposited for
1.5 years at an interest rate of 5% p.a.
4.Suppose that interest is compounded half-yearly. If the difference
between the simple interest and the compound interest for 1 year at an
interest rateof 5% is $25, find the principal.