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2. Find the effective rate for an investment for 4.5% compounded quarterly. a. % (round to 3 decimal places) b. 4.48% compounded continuously. % (round to 3 decimal places) 3. Investments: Ginny is considering an investment for her retirement. If she invests $220 per month for 25 years and the interest is 32% compounded monthly, then what is the future value of her annuity? (round to the nearest penny) a. Formula needed for this situation: Future value of her annuity $ fround to the nearest penny) single investment of $14,000 in a different account that pays the same interest (3.2% If she also makes a compounded monthly), then what is her account value in 25 years? b. Formula needed for this situation: Account Balance in 25 years $ (round to the nearest penny) c. What is her total amount available for retirement? (add the two answers above) fround to the nearest dollar)
