Instructions: Answer each question, and when required explain your answer. Your explanation must be clear and complete. You may refer to your book, your notes and your homework papers.  Which is the best deal over a 3-year period: investing at 7.2% compounded annually, investing at 7% compounded monthly or investing at 6.8% compounded daily? Show how you determine the answer.  Problem 21ab on p. 814: How much money would have to be invested in an account at 4.25% annual interest to achieve a balance of $50,000 in 20 years in each of the following cases? (a) The account pays simple interest? (b) The account compounds interest semi-annually?  Problem 24 p. 831. (a) Use the monthly payment formula to determine the monthly payment for a 60-month amortized loan of $25,495 at 4.5% interest. (b) Use an amortization table to find the monthly payment for the loan from part (a), and compare the result with the monthly payment found in part (a).  Explain how to select a simple random sample of 7 elements from the whole numbers running from 1 to 100, using the table on page 570. What sample do you get? Explain in enough detail that I can verify that your sample is the one you should have gotten.  Explain how to select a 40% independent sample from the whole numbers running from 1 to 10, using the table on page 570. What sample do you get? Explain in enough detail that I can verify that your sample is the one you should have gotten.  Do Problem 37 on page 592.