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Emma wants to make one deposit of $X today into her savings account earning interest at 5.2% p.a. compounded quarterly. Emma plans to make the
Emma wants to make one deposit of $X today into her savings account earning interest at 5.2% p.a. compounded quarterly. Emma plans to make the following withdrawals from the savings account: $2300 in 9 months, $ 3700 in 15 months and $5600 in 21 months. Emma wants to use the following equation to calculate the minimum $X she needs to deposit today. Assume i stands for the effective interest rate per quarter. X = 2300(1 + i)^1 + 3700(1 + i)N2 + 5600(1 + i)3 Calculate the following variables in the equation above. For percentages, round your answer to the nearest 0.01% (2dp). Do not include the % symbol. Do not use comma separators. For example, if your answer in decimal is 0.123456, 12.35 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= % (0.5 mark) n1= (0.5 mark) n2= (0.5 mark) n3= (0.5 mark)
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