1. How much is accumulated in each of these savings plans over two vears?
(a) Deposit 1000 yuan today at 10% compounded annually.
(b) Deposit 900 yuan today at 12% compounded monthly.
2. Greg wants to have $50 000 in five vears. The bank is offering five-year investment certificates that pay 8% nominal interest, compounded quarterly. How much money should he invest in the certificates to reach his goal?