a) What is a financial system and what role does it play in an economy? Briefly discuss the financial institutions, markets and financial instruments . In your opinion what needs to be done to enhance the efficiency and effectiveness of our financial system.

b) A person deposited K10,000 into a prudential retirement savings plan on 4th February 1998.How much will be in the plan on 4th February 2018,if interest is compounded daily at 11.4%?(use exact

c) How much would have to be deposited today in an investment fund paying interest at 10.4% compounded monthly to have 20,000 in 3 years time

d) How long will it take 20,000 to accumulate 8000 interest at 10% compounded quarterly, if compound interest is allowed for the fractional part of a conversion period?

e) Laurence Paul investment managers Limited advertises that they will triple your money in 10years time. What rate of interest compounded monthly is implied?