QUESTION 2 (40 marks) Your parents wish to save $30,000 for your wedding scheduled on 31/12/2023. They will start the first monthly deposit by the end of this month, on 30/6/2022 and earn j2 = 4% p.a. a) What is the regular deposit required per month? [5 marks] b) Suppose that, after three deposits, the interest rate rises to j12 = 4.5%. Determine the new deposit size required to meet the original target of $30,000. [10 marks] c) If they are ready to save $5,000 per month, how fast can they reach the $30,000 under the new interest rate? [5 marks] d) How would your answer to a) change if interest was compounded fortnightly, weekly, and daily? Provide an explanation and use the sanity check. [5+5+5+5= 20 marks]