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Question 1 (7marks) You have just won a cash prize of R35 000 from UWC's got Talent. You plan to invest this money using one

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Question 1 (7marks) You have just won a cash prize of R35 000 from UWC's got Talent. You plan to invest this money using one of two options. Option A: Invest the entire cash prize for three years at the beginning of each year into a savings account offering 8% p.a compounded quarterly. Option B: Invest R5000 every year for seven years at 5% with annual compounding. a) Which option would you choose and why? (4) b) If you were to invest only 25% of the cash prize for three years, what interest rate would give you a return of 30% on your investment. (3)

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