4. Obaa Yaa is considering two different Savings Plans. The first Plan would have her

deposit GH14,000 every six months, and she would receive interest atal2o/o annual rate,

compoun$qd -semi-annually. Under the second p!g4, she would deposit GHtr8,000 every

year with arale of interest of 9oh compounded annually.

(a) What is the future value of the first plan at the end of 8 years?

(b) What is the future value of the seJond plan at the end of 8 years?

(c) Which plan shoilld AbaaYaause, assuming that her only concern is with the value of

her savings?

(d) A debt of GHI 10,000.00 is amortized over 5 years. If the borrowing rate is 24Yo,

determine the amount to be paid monthly, and the interest paid.

e)_ Koo }r{imo deposits /i5 Millior inlo his sayings account. The interest earned is l2o/o

compounded quarterly. Find the Future value and the interest earned for 5 years.