Jack will graduate from high school at the end of this year. He needs to buy a laptop for university one year from today. The laptop is expected to cost $$1200.$

Required:

a$.$ If Jack can earn $4$ per cent on his money, compounded yearly, how much would he have to put in a savings account today? $(2$ marks$)$

b$.$ How much would he have to put into a savings account today if he can earn $6$ per cent on his money, compounded yearly? $(2$ marks$)$