Question 2 Julie is going to establish a University Fund for her daughter Jade, who has just been born. She plans to make the rst deposit of $5,000 on Jade's fourth birthday and make another 8 annual deposits of this amount. After this, annual deposits of $10,000 will be made until Jade's 18th birthday. Given the long term nature of the investment, Julie anticipates an 8% pa return. The money is the transferred to an account for Jade and she will then withdraw the money in equal annual amounts for 6 years starting on her 18th birthday. Jade will only be able to earn 5% pa on her money. (i) How much will be available on Jade's 18th birthday? (ii) Create a schedule showing the cash inows and outflows of this fund. How much will Jade be able to spend each year? (Your answers should be accurate to the nearest dollar)