1) You are wishing to accumulate $20,000 for an expedition in 3 years’ time. To do this, you will make 6 equal deposits (half yearly) with the first deposit today. If you earn 4.4% per annum compounding twice yearly, what deposit will be needed?

2) $5,000 is invested at 7% p.a compounding semi-annually for the first 2 years and at 14% p.a compounding quarterly for the following 3 years. What is the future value at the end of 5 years?