Answer both parts (a) and (b) of this question. (a) Suppose you have 100 to invest in a bank account that pays interest at the rate of 4% per annum. Assume you make no withdrawals. (i) [5 marks] If the interest is compounded once a year, how much will you have after 1 year? How much will you have after 25 years? (ii) [5 marks] If the interest is compounded monthly, how much will you have after 25 years? (iii)[5 marks] if the interest is compounded continuously. How much will this saver have after 25 years. (b) [10 marks] The UK population has just reached 60 million people. A TV expert predicts that without Brexit, the UK population will reach 70 million in 10 years' time. What population growth rate g ensures this prediction is correct [ without Brexit]. The TV expert further predicts that Brexit will halve the growth rate of the UK population. If the expert is correct, show that it will then take 20 years for the UK population to reach 70 million [ with Brexit)