a) b) On July 10, 2020, $7500 was invested in a fund paying 8% compounded quarterly. How much will be in this fund on October 10, 2023? [4 marks] A person can buy a lot for $30,000 now. Alternatively, she can buy the lot with a down payment of $12,000 now, plus further payments of $12,000 in 2 years and $12,000 in 5 years. Which is the better option, if money can be invested at 12% compounded monthly? [5 marks) c) A bank advertises that it offers 28% per annum as an effective rate of interest for savings accounts whose amounts exceed $1 million. Find the nominal rate of interest compounded daily that the bank offers. [6 marks) d) The Ministry of Social Security sends Sandra Smith a family allowance payment of $3000 every month for Sandra's child. Sandra deposits the payments in a bank account on the last day of each month. The account earns interest at 10.5% compounded monthly. If the first payment was deposited on May 31, 2008, what was the account balance on December 31, 2019? [5 marks]