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In 1 8 8 0 five aboriginal trackers were each promised the rquivalent of 5 0 Austrailian dollars for helping to calculate the notorious outlaw

In 1880 five aboriginal trackers were each promised the rquivalent of 50 Austrailian dollars for helping to calculate the notorious outlaw Ned Kelley. In 2000, the granddaughters of two ofthe trackers claimed that this reward had not been paid. The Victorian prime minister stated that if this was true, the government would be happy to pay the $50. However, the granddaughters also claimed that they were entitled to compound interest.
a. How much was each granddaughter entitled to if the interest rate was 3%?
Note: Do not round intermediate calculations. Round your answers to 2 decimal places.
b. How much was each entitled to if the interest rate was 6%?
Note: Do not round intermediate calculations. Round your answers to 2 decimal places.

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