Question 2 (a) $100 is invested at time 0. The annual effective rate of interest is 5% from time 0 to time 7 years and thereafter it 6%. Find the accumulated value of the investment at time 10 years. [4 marks] (b) At time 0, Elecia deposits 2X into a savings account, which pays simple interest at an annual rate of i. At time 0, Michaela deposits X into a different savings account, which pays interest at a rate of i compounded annually. Elecia and Michaela earn the same amount of interest during the 8th year. Calculate i. [7 marks] (C) An amount of X is invested in Fund A at an annual effective interest rate of 6%. At the same time, an amount of Y is invested in Fund B at an annual effective interest rate of 8%. At the end of 20 years, the total in the two funds is $20,000. At the end of 10 years, the amount in Fund A is half the amount in Fund B. Calculate the total amount in the two funds at the end of 5 years. [9 marks]