Problem 8 (13 marks) After 4 years of hard work, 23-year old Jake graduated with his bachelor's degree in finance and started job hunting. After several interviews, he has secured two job offers: Offer from RBC: In the offer from RBC, the starting annual salary is $65,000 and RBC promises that Jake can expect 2.5% annual salary growth.|| Offer from TD Bank: In the offer from TD Bank, the starting annual salary is $70,000 and TD promises that Jake can expect 1.5% annual salary growth. In addition, TD will award a one-time loyalty bonus of $30,000 on the 25th year anniversary if any employee works at TD for over 25 years, and another $50,000 bonus on the 35th year anniversary. Assuming that Jake will stay with one employer until he retires at age of 65, which job offer should Jake take given a 4 % annual interest rate (APR)? 3 D Focus a N w Problem 9 (16 marks) Your daughter just turned 4 years old. You anticipate she will start University when she turns 18. You would like to have funds in a registered education savings plan (RESP) to fund her education at that time. You anticipate she will spend 6 years in university, and it will cost $20,000 per year. She will need the $20,000 at the start of each school year. When she graduates (debt free) you would also like her to have $40,000 for a down payment on a condo or to travel. If the account promises to pay a fixed interest rate (APR) of 6% per year with monthly compounding, how much money do you have to deposit each quarter to ensure you will have enough when she starts university? Assume you will make the same deposit at the end of each quarter until she starts university