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600 Billy will make 7 half-yearly deposits of $600 starting in 6 months' time. The bank pays interest at 3% p.a. compounded half-yearly for the
600 Billy will make 7 half-yearly deposits of $600 starting in 6 months' time. The bank pays interest at 3% p.a. compounded half-yearly for the first 2 years and 4% p.a. compounded half- yearly thereafter. Billy wants to use the following equation to find his bank balance in 6 years. 600 FV = (1 + i)": -1)-(1 + i) + ((1 + i) - 1) = (1 + i)** Calculate the following variables in the equation. The variables may or may not be the same value. For percentage, round your answer to the nearest 0.001% (30p). Do not include the % symbol. Do not use comma separators. For example, if your answer in decimal is 0.123456, 12.34 would be the correct format. For n, show your answer as an integer (positive or negative). Do not include units like "years" or "months" (number only). Do not use comma separators. For example, 123456 would be the correct format 11 = % (0.5 mark) 12= % (0.5 mark) ni = (0.5 mark) n = (0.5 mark) n = (0.5 mark) ng= (0.5 mark)
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