Mr tan invested 5000 swiss francs(chf) bank a at a nominal annual interest rate of r% compounded monthly, for four years. the total interest he received was 1866 chf. a) calculate value of r mr black invested 5000 chf in a bank at a nominal annual interest rate of 3.6% compounded quarterly for four years b)calculate the total interest he received at the end of the four years give your answer two decimal places.

Given : Invested amount = $5000.

Rate of interet = r% compunded monthly.

Number of years = 4 years.

Total interest received = $1866.

Therefore, total amount after 4 years = 5000+1866 = $6866.

We know, formula for compound interest :

, where P is the invested amount, n is the number of monthly installments in an year.

Number of months in an year are 12.

Plugging n=12, P=5000, t=4 in the formula now, we get

Dividing both sides by 5000, we get

Taking 48th root on both sides, we get

Subtracting 1 from both sides, we get

0.00662903758 =

Multiplying by 12 on both sides, we get

r=0.07954845101

r≈0.0795

Or 7.95%.

Now, we need to find the interest after four years if the rate of interest is 3.6% compounded quarterly.

There are 4 quarters in an year.

So, n=4 and r=3.6%= 0.036.

Plugging values in compound interest formula now, we get

A≈5770.70

Subtracting 5770.70 -5000.00 = 770.70.

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