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Diana has $X in her savings account today. She can make 8 annual deposits of $1400 starting in one year's time. She earns interest at
Diana has $X in her savings account today. She can make 8 annual deposits of $1400 starting in one year's time. She earns interest at 4% p.a. compounded half yearly. Diana's account balance will be $22400 in 8 years. Which of the following can be used to find the balance (X) of her bank account today? (There may be more than one correct answer. You will lose marks by choosing a wrong answer. The minimum mark for the question is zero.) Select one or more: 1400 a. X* (1 + 0.04)8 + * [(1 + 0.04)8 1] = 22400 0.04 1400 b. X* (1 + 0.0404)8 + * [(1 + 0.0404)8 1] = 22400 0.0404 1400 C. X *(1 + 0.02)16 + [(1 + 0.04)8 1] = 22400 0.04 1400 [1 (1 + 0.0404)-8] = 22400 0.0404 * d. X + 1400 e. X + [(1 + 0.0404)8 1] = 22400 0.0404 1400 f. X + [1 (1 + 0.0404)-8] = 22400 + (1 + 0.02)-16 0.0404
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