Question: Need answer for d. and e. Today, on January 1,2022 , you have received a reward for a sum of money from your father amounting

Need answer for d. and e. Today, on January 1,2022 , you Need answer for d. and e.

Today, on January 1,2022 , you have received a reward for a sum of money from your father amounting to RM10,000.00 for achievement in university studies. From the amount received, RM9,000.00 is used for personal needs, and the balance is deposited into a savings account in a local bank that pays annual interest of 8%. REQUIRED: a. If the bank compounds interest annually, how much will you have in your account on January 1,2025 ? b. What will your January 1,2025 , balance be if the bank uses quarterly compounding? c. Suppose you deposit RM1,000.00 in three payments of RM333.33 each on January 1 of 2023,2024 , and 2025. How much will you have in your account on January 1,2025 , based on 8% annual compounding? d. How much will be in your account if the three payments begin on January 1, 2022? e. Suppose you deposit three equal payments into your account on January 1 of 2023, 2024, and 2025 . Assuming an 8% interest rate, how large must your payments be to have the same ending balance as in part a

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