QUESTION THREE A. An amount of K2 300 is deposited in a bank for one holding period compounded continuously. The amount at the end of the holding period is K2 600 Calculate the stated rate of interest (4 Marks) B. You are hoping to retire at the age of 70 with an expected life expectancy of 95 years. You estimate your monthly expense after retirement will be K3 200 from an account compounding monthly at a stated rate of 4.5%. You are currently 27 years old and plan to make a deposit at the end of each quarter until you are 70 years old in an account that pays a stated rate of 8.5% compounded quarterly. How much must you deposit each quarter? (16 Marks) PV [TOTAL: 20 MARKS]