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A. To expand his transmission shop, Hans needs to save $15000 for new equipment. How much would he have to pay into the account at

A. To expand his transmission shop, Hans needs to save $15000 for new equipment. How much would he have to pay into the account at the beginning of every 6 months if the interest rate is 7% compounded semi annually? [5 marks]

b. Aleena rents a suite and pays $1700 in monthly rents in advance. What is the cash value of the property if money is worth 6.6% compounded quarterly? [5 marks]

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