If you wish to save $$400,000$ in four years, how much would you need to deposit at the start

of each quarter to achieve this goal assuming an interest rate of $6\%$ compounded quarterly?

$(4$ marks$)$

Assume that you can get a loan from NCB for $$800,000$ for educational purposes. The loan

must be repaid in $36$ equal monthly payments over a three$-$year period. The annual interest

rate on the loan is $24$ percent on the unpaid balance. How large are the monthly payments?

$(4$ marks$)$