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5. Dimple Kapadia deposited $125,000 in a savings account on May 1 and then deposited an additional $44,500 in the account on June 8 . Find the balance on August 31 assuming an interest rate of 51/2% compounded daily. 6. At the end of each year, Jackie Shroff will deposit $60,600 into his retirement account. Find the amount he will have accumulated in 10 years if funds earn 4% per year. 7. Sherya Goshal Cafe needs $248,500 in 3 years. Find the required semiannual payment into a sinking fund if funds are invested in an account earning 10% per year compounded semiannually