(b) Suppose that it is January 1,2023. After much deliberation, (4 marks each) determine determine that you need K20,000,000 on January 1,2027. (i) How much must you deposit in your account on January 1, 2023 to have a balance of K20,000,000 on January 1, 2027? The bank compounds interests at 8 percent annually. (4 marks) (ii) If you decide to make equal deposits every January 1 to accumulate the K20,000,000 on January 1, 2027 how large much each payment be. (4 marks) (iii) If you deposit K4,000,000 each January 1 but still need K20,000,000 on January 1, 2027, what interest rate must you eari to achieve your goal? (4 marks) (c) You have boron K15,000,000 at an annual interest rate of 18 percent. You feel K15,000,000 at an and you are able to make annual payments of K2,500,000 per ye and interest). How ong will it take you to repay the loan?(5 marks) (Total: 25marks)