B.

1.

Jim has a debt of $15000 due in 10 years. To repay the debt on it's due date she deposits $100 monthly into an account for the first 6 years and $X monthly thereafter. N.R= 3%c.m.

a) What will her monthly deposit amount to in 6 years?

b) What is the $X amount?

2.

Bill has deposited $500 each month into a savings account for the last 4 years. The account now contains $25465.60.

What rate of interest N.R. c.m. has he been earning?

Round your answer to four decimal places.