Question 1 (Total of 12 marks) On Marys 16th birthday, her parents invest on her behalf an amount of $4,000 into an account that pays interest at 3.8% compounded semi-annually. (5 marks) How much will the account be worth on Marys 21st birthday? (7 marks) Would Mary be better off if the account paid interest at 3.75% compounded quarterly? Explain. Question 2 (Tot

Question 1 (Total of 12 marks) On Marys 16th birthday, her parents invest on her behalf an amount of $4,000 […]

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