You have the opportunity to join a syndicate which intends to search for the lost treasure of the Egyptian Pharaoh, Tutem K'Moon To join this syndicate you will need to have saved $50,000 in eighteen (18) months You plan on doing this by making regular monthly deposits of the same size into a savings account, starting in one month's time The savings account pays interest j 12 7 50 p a a) Illustrate this scenario as a fully labelled time line diagram b) Determine the monthly deposit size required to reach your goal c) Explain and perform a sanity check on your answer to (b) d)During the sixth month you lose your wallet If you can't find it, you can't make your sixth deposit If you can't make your sixth deposit but can make deposits 7 to 18 of the size you found in part (b) , determine how much you will have accumulated in your savings account by the end of the 18 th month Determine how far short you would fall of your target e)You find your wallet and don't miss the sixth deposit Immediately after your 8 th deposit, the interest rate increases to j 12 7 68 p a Determine what deposit size will now be needed for deposits 9 to 18 in order to still meet your original target of $50000 Describe and perform a sanity check on your answer

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You have the opportunity to join a syndicate which intends to search for the lost treasure of the Egyptian Pharaoh, Tutem K'Moon. To join this

You have the opportunity to join a syndicate which intends to search for the lost treasure of the Egyptian Pharaoh, Tutem K'Moon. To join this syndicate you will need to have saved $50,000 in eighteen (18) months. You plan on doing this by making regular monthly deposits of the same size into a savings account, starting in one month's time. The savings account pays interest j₁₂= 7.50% p.a.

a)Illustratethis scenario as a fully labelled time line diagram.
b)Determinethe monthly deposit size required to reach your goal.
c)Explainandperforma sanity check on your answer to (b)
d)During the sixth month you lose your wallet. If you can't find it, you can't make your sixth deposit. If you can't make your sixth deposit [but can make deposits 7 to 18 of the size you found in part (b)], determine how much you will have accumulated in your savings account by the end of the 18^thmonth.Determinehow far short you would fall of your target.
e)You find your wallet and don't miss the sixth deposit. Immediately after your 8^thdeposit, the interest rate increases to j₁₂=7.68 % p.a.Determinewhat deposit size will now be needed for deposits 9 to 18 in order to still meet your original target of $50000.Describeandperforma sanity check on your answer.