You wish to save $2000 to go on a holiday when you finish university in 2.5 years time. You plan to do this by making regular deposits of the same size into a savings account that pays interest j52 = 4.68% p.a., starting in one weeks time.

a)Illustrate this scenario as a fully labelled time line diagram. [2 marks]

b)Determine the deposit size required. Enter this value to 2 decimal places as an answer to Assignment 1 Milestones question 3b. You can have as many attempts of this as you wish without penalty, but this question will close at 4:00pm on Friday 7 August. There will be no marks available for this question part after then. [2 marks