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Can I have answers for both questions? 5. Harry makes half yearly deposits of $2,000 in to a savings account starting in 6 months. He

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5. Harry makes half yearly deposits of $2,000 in to a savings account starting in 6 months. He also makes yearly withdrawals of $3,000 from the same bank account at the end of each year. The bank pays interest at 6% pa, compounding half yearly. How much is left in the savings account at the end of 5 years? (Correct to the nearest cent.) (3 marks) Jacky makes month-end deposits of X into his bank account for 2 years. The bank pays interest at 4.8% p.a. compounding monthly. Jacky stops making deposits aner 2 years and starts to withdraw $500 at the end of each month. If the money in the bank account is sufficient for him to withdraw 12 times, calculate the minimum X. (Correct to the nearest cent.) (3 marks) 6

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