You plan to buy an electric car made by Tesla 6 years from today. a) The current price of the model you are interested in is $80,000. If the price of the car falls by 2% annually due to the improvement in battery technology, what will be the price of the vehicle 6 years later? [3 marks] b) Assume you plan to deposit $500 at the end of each month into your saving account that pays an interest rate of 4% p.a. compounded monthly. Calculate the amount of money accumulated in your saving account at the end of year 6. [3 marks] AND OND ON c) If your deposits are made at the beginning of each month for 6 year at the rate of 4% p.a compounded monthly, calculate the monthly deposit amount that would accumulate the same amount of money in your saving account 6 years later as per your answer in part b). [3 marks] d) Assume it is now the end of year 6 (i.e. today). You decide to take up a 5-year car loan to purchase the car. With financial help from your parents, you only need to borrow $25,000. The car loan is fully amortised, and the interest rate is compounded monthly. If the effective annual rate of the loan is 8%, what is the monthly repayment amount? 09-09-2 [3+3=6 marks]