Billy will make 9 half yearly deposits of $800 starting in 6 months time The bank pays interest at 4 p a compounded half yearly for the first 3 years and 5 p a compounded half yearly thereafter Billy wants to use the following equation to find his bank balance in 7 years Calculate the following variables in the equation The variables may or may not be the same value For percentage, round your answer to the nearest 0 001 (3dp) Do not include the symbol Do not use comma separators For example, if your answer in decimal is 0 123456, 12 346 would be the correct format For n, show your answer as an integer (positive or negative) Do not include units like years or months (number only) Do not use comma separators For example, 123456 would be the correct format i 1 Answer (0 5 mark) i 2 Answer (0 5 mark) n 1 Answer (0 5 mark) n 2 Answer (0 5 mark) n 3 Answer (0 5 mark) n 4 Answer (0 5 mark) Billy will make 9 half yearly deposits of $800 starting in 6 months' time The bank pays interest at 4 p a compounded half yearly for the first 3 years and 5 p a compounded half yearly thereafter Billy wants to use the following equation to find his bank balance in 7 years 800 800 FV ((1 ii)1 1) (1 iz) 2 ((1 iz) 3 1) (1 iz) n4 i Calculate the following variables in the equation The variables may or may not be the same value For percentage, round your answer to the nearest 0 001 (3dp) Do not include the symbol Do not use comma separators For example, if your answer in decimal is 0 123456, 12 346 would be the correct format For n, show your answer as an integer (positive or negative) Do not include units like years or months (number only) Do not use comma separators For example, 123456 would be the correct format 11 (0 5 mark) 12 (0 5 mark) n1 (0 5 mark) n2 (0 5 mark) n3 (0 5 mark) n4 (0 5 mark)

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Billy will make 9 half-yearly deposits of $800 starting in 6 months time. The bank pays interest at 4% p.a. compounded half-yearly for the first

image text in transcribed Billy will make 9 half-yearly deposits of $800 starting in 6 months time. The bank pays interest at 4% p.a. compounded half-yearly for the first 3 years and 5% p.a. compounded half-yearly thereafter. Billy wants to use the following equation to find his bank balance in 7 years.

Calculate the following variables in the equation. The variables may or may not be the same value.

For percentage, round your answer to the nearest 0.001% (3dp). Do not include the % symbol. Do not use comma separators. For example, if your answer in decimal is 0.123456, 12.346 would be the correct format.

For n, show your answer as an integer (positive or negative). Do not include units like years or months (number only). Do not use comma separators. For example, 123456 would be the correct format.

i₁=Answer% (0.5 mark)

i₂=Answer% (0.5 mark)

n₁=Answer (0.5 mark)

n₂=Answer (0.5 mark)

n₃=Answer (0.5 mark)

n₄=Answer (0.5 mark)

Billy will make 9 half-yearly deposits of $800 starting in 6 months' time. The bank pays interest at 4% p.a. compounded half-yearly for the first 3 years and 5% p.a. compounded half-yearly thereafter. Billy wants to use the following equation to find his bank balance in 7 years. 800 800 FV = ((1+ii)1 - 1)*(1 + iz)^2 + ((1+iz)^3 1)*(1 + iz) n4 i Calculate the following variables in the equation. The variables may or may not be the same value. For percentage, round your answer to the nearest 0.001% (3dp). Do not include the % symbol. Do not use comma separators. For example, if your answer in decimal is 0.123456, 12.346 would be the correct format. For n, show your answer as an integer (positive or negative). Do not include units like "years" or "months" (number only). Do not use comma separators. For example, 123456 would be the correct format. 11 % (0.5 mark) 12= % (0.5 mark) n1= (0.5 mark) n2= (0.5 mark) n3= (0.5 mark) n4= (0.5 mark)