Q2 Q3Q4Q5 Q2What would $1000 become in a saving accountat 3% per year for 3 years when the interest is notcompounded (simple interest)? What would the sameamount become after 3 years with the same rate butcompounded annually?Q3compounded annually for 2 years. It is then withdrawnat the end of the two years and placed in another bank atthe rate of 5% compounded annually for 4 years. Whatis the balance in the second account after the 4 years.$1200 is placed in an account at 4%An amount of $1,500 is invested for 5 yearsQ4at the rates of 2% for the first two years, 5% for thethird year and 6% for the fourth and fifth years allcompounded Annually. What is the total amount atthe end of the 5 years?Q5A principal of $2000 is placed in a savingsaccount at 3% per annum compounded annually.How much is in the account after one year, twoyears and three years?

Q2At simple interest of 3% for 3 years the $1000 will become: Interest = Principal * Rate * Time /…

Q2 What would $1000 become in a saving account at 3% per year for 3 years when the interest is not compounded (simple interest)? What would the same amount become after 3 years with the same rate but compounded annually? $1200 is placed in an account at 4% Q3 compounded annually for 2 years. It is then withdrawn at the end of the two years and placed in another bank at the rate of 5% compounded annually for 4 years. What is the balance in the second account after the 4 years. An amount of $1,500 is invested for 5 years Q4 at the rates of 2% for the first two years, 5% for the third year and 6% for the fourth and fifth years all compounded Annually. What is the total amount at the end of the 5 years? Q5 A principal of $2000 is placed in a savings account at 3% per annum compounded annually. How much is in the account after one year, two years and three years?