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In 1880 , five aboriginal trackers were each promised the equivalent of 50 Australlan dollars for helping to capture the notorious outlaw Ned Kelley. In

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In 1880 , five aboriginal trackers were each promised the equivalent of 50 Australlan dollars for helping to capture the notorious outlaw Ned Kelley. In 1997, the granddaughters of two of the trackers claimed that this reward had not been paid. The Victorlan prime minister stated that If this was true, the government would be happy to pay the $50. However. the granddaughters also clalmed that they were entitled to compound interest. a. How much was each granddaughter entitled to if the interest rate was 4% ? Note: Do not round Intermedlate calculatlons. Round your answer to 2 decimal places. b. How much was each entitled to if the interest rate was 8% ? Note: Do not round Intermedlate calculations. Round your answer to 2 decimal places

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