University Retirement Fund is consider the second largest pension funds after GIPF in Namibia. During the year 2019, the fund payout N$ 70 millions to its retired members, and received N$ 80 million interest income, and 120 million in contributions. If the fund value was N$ 1.2 billion at the beginning of 2019, compute the yield rate on the fund for each of the following circumstances: (a) Contributions, benefits and interest are uniformly spread throughout the year. [5] (b) Benefits and interest are uniformly throughout the year, and the contributions are made in one lump-sum at time (i) t = 0, (ii) t = 1/6 , (iii) t = 1/3 (iv) 2/3 , or (v) t = 3/4 .

This is also basic financial mathematics