Question
wish to save $2000 to go on away in 2.5 years time. Plan to do this making regular deposits of the same size into a
wish to save $2000 to go on away in 2.5 years time.
Plan to do this making regular deposits of the same size into a saving account that plays interest J52=%4.68 p.a starting in a week's time.
A) illustrate this time line in a diagram
B) immediately after the 50th deposit the interest rate increases to J52=%4.78 p.a draw another appropriate timeline.
then determine what deposit size will now be needed for deposits 51 to 130 in order to still meet the original target of $2000.
C) determine how much will be accumulated at the end of the savings scheme if continue with old weekly deposit size after the interest rate changes
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