Suppose you are to receive the following cashflows in the future, at the times indicated below. (a) Assuming that you deposit all cashflows into a savings account that earns interest at a rate of 4.8% nominal, convertible 3 times per annum, what is the accumulated value of your savings in exactly 23 years time? Give your answer to the nearest dollar. [2 marks] Hint: Use Excel! Cashflow Time from now (years) 0.25 Cashflow 13,000 8,500 8.000 12,500 0.5 2.5 Time from now (years) 13 13.25 14 14.5 15 155 7.500 7,000 3.75 12.000 11,500 11,000 10,500 10,000 9,500 9,000 6,500 6,000 5.500 4.25 11 12.75 19.5 19.75 5,000 4,500 (b) Repeat part (a), but with the following interest / earning rates applying: [i] {") = 4.8% [*] (0.5) = 4.8% [111] (1) = 4.8% [iv] d) = 4.8% [1 mark each] (c) What does the interest / earning rate have to be, in order for the accumulated value in 23 years time to be equal to $500,000? Give your answer in terms of i the annual effective rate of interest, to 3 significant figures. [2 marks] (d) What does the interest / earning rate have to be, in order for the accumulated value in 23 years time to be equal to $150,000? Give your answer in terms of i, the annual effective rate of interest, to 3 significant figures. [2 marks]