Jackie wishes to accumulate $10,000 in a year and a half (78 weeks) in order to be able to buy into a syndicate who plan to search for the lost treasure of the Merchant Royal.Starting in one weeks time, Jackie plans to make 78 weekly deposits each of the same size into a savings account that pays j52 = 6.76% p.a.

a) Illustrate the cash flows associated Jackies savings as a fully labelled timeline diagram.

b) Determine the required the weekly deposit size

Jackie loses their income during a COVID lockdown, and is unable to make the scheduled deposits for weeks 23 to 30 inclusive.

c) Determine how far short of the target of $10,000 Jack will be at the end of 78 weeks

d) Determine what size the deposit in week 31 would need to be, in order to put Jackie back on schedule to meet their target.