ESTION FOUR Mzee Kipara wants to retire 15 years from today and start his own business (assume today is 1st January). To raise initial capital, he plans to invest various cash flows described below i) He deposits Ksh 500,000 today in an account where interest is compounded continuously at 12%. Calculate the bank balance at the date of retirement. 4 marks ii) He plans to deposit at end of every year, an amount that will earns interest at 16% compounded annually. The annual deposit will grow at 10% per year and the fist deposit will be done at the end of this year of Ksh 50,000 . A total of 15 deposits will be done. Calculate the bank balance at the date of retirement. 4 marks iii) He has borrowed Ksh 600,000 today and invested in Nairobi Security exchange. The lender is charging interest at 11% compounded semiannually. If he plans principal and accrued interest on retirement date, Calculate the amount he will pay. 4marks iv) He will make 15 annuity contributions of Ksh 60,000 at beginning of every year, starting today, in a bank account that earns interest at 14% p.a. Calculate the bank balance at retirement data. 4 marks