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(DFJ1) (4 marks) You are planning to visit a friend overseas in two years when you graduate from Uni. You want to save some money
(DFJ1) (4 marks) You are planning to visit a friend overseas in two years when you graduate from Uni. You want to save some money to spend on that trip. You currently have $1000 in your savings annuity for this trip. In the first year, you will make payments of $300 at the end of each month at 5% compounded semi-annually. In the second year, you will make end-of-quarter contributions of $1,000 at 6% compounded quarterly. How much money will you have saved to spend on that trip?
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