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Question 2: Time Value of Money (25 points) You get NOK35,000 as a gift for your graduation

Finance

Question 2: Time Value of Money (25 points) You get NOK35,000 as a gift for your graduation. You decide to invest this money in a bank account. a. How much do you have after 5 years if the interest rate is 5%? b. How much do you have after 10 years if the interest rate is 5%? C. Is the amount of interest that you earn in 10 years exactly equal to twice the amount you earn in 5? Why?

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