Question

(A) Mr. Zuhair deposits $ 60,000 into a bank, which pays 4% interest that is compounded semiannually. What will he have in his account at the end of five years

and compound interest amount?(7 points) (B) The owner of a small factory thinks that he will need $ 75,000 for new equipment in 10years. He decides that he will put aside the money now so that after 10 years the $ 75,000 will beavailable. His bank offers him 10% interest compounded semiannually. What is the present value of the $ 75,000?(6 points) (C) A person deposited $ 75,000 at a bank at an interest rate of 12% compounded quarterly. Find the effective rate (APY). Write your answer in percentage rounded to the nearest hundredth.(7 points)

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