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Consider the following compound interest scheme, which we'll refer to as Scheme RST throughout this test. Scheme EST 0 An interest rate of r >
Consider the following compound interest scheme, which we'll refer to as Scheme RST throughout this test. Scheme EST 0 An interest rate of r > 0 is applied at the end of the rst week, 0 An interest rate of s > 0 is applied at the end of the second week, a An interest rate of t > 0 is applied at the end of the third week. Thereafter, the cycle repeats, so that the rates r, s, and t are applied at the end of the subsequent weeks, in this order. 1. In parts (i) to (iii) assume that the investment is made into an account that follows Scheme RST. (i) If a principal P is invested at the beginning of Week 1, what is the value of the investment after 1 year? Note: There are 52 weeks in a year. (ii) If a principal P is invested at the beginning of Week 1, how many cycles (3 weeks) will it take for the value of the investment to triple? (iii) After 24 weeks we want the value of our investment to be 5'. What principal P should be invested at the beginning of the rst week in order to ensure that the account has exactly 5' dollars
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