14) 16)Linda will make month-end deposits of 2,000 for 6 years staring in one...
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16)Linda will make month-end deposits of 2,000 for 6 years staring in one month. She earns an interest rate of 5.9% p.a. compounded monthly for the first 2 years and 10.0% p.a. compounded monthly thereafter. How much will she have in 6 years? Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)
Jack wants to accumulate $ 16,000 for a motor-bike in 5 years' time. To do this, he will make 20 level deposits (quarterly) with the first deposit today. If he earns 7.2% per annum compounding quarterly, what regular deposit will be needed? (round to nearest cent; don't use $ sign or commas) O a. $671.72 b. $659.85 O c. $1357.57 O d. $2585.05
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