(Not question #1!!)

= 48 n 2 . a ) 1 anually 6% 0.015 $5 306. 82 2 semi- Onnually 6% 8 0.0075 $5307. 99 3 monthy 148 0.00125 /$ 5 308. 98 In ) 4 x 1 = 4 1i ) 6 + 4 = 15 A = 5000 ( 1+ 0.015 )# 2n) 4 x 2 = 8 27) 6: 8= 0.75 A = 5000 (1+0.0075) 8 3n ) 4x1 = 48 37) 6: 48 = 0.175 A= 5000 ( 1+0.00125) 18 b ) Option 3 s the best option .. 65308. 98 -45306, 82= $2. 16 $5308. 98-5307.99 = 60. 99. ( ) Option 3 is the best for Najinda . He would earn $2.16 move than option I and toga more than option 2 .1. Carli invests $3000 in a GIG that pays 4.5% interest per year compounded monthly. How much money will she have in 4 years? (3 marks} 2. Najinda has inherited $5000 and decides to invest it for4 years. He investigates three options that are offered to him by different nancial institutions. The interest on each plan is 6% per year. a. Complete the following chart for Najinda: (12 marks} Amount Option Conversion Periods Interest Rate!r Year n i A = P[1 + i)\" 1 annually 5% 2 semi-annually 0% 3 monthly 5% b. Whioh option is the better investment? How much more interest will he earn with this option? [3 marks) c. Write a word conclusion for Najinda's investigation. (2 marks}