Question 10 (5 points) Luke Skywalker needs a new light saber, but he will have to save up to purchase it. The light saber costs 16000 and he needs it in 1 year(s) and 4 months. If he can earn 1.7% on his savings compounded monthly, how much does he need to deposit now in order to have enough to buy the light saber. Your Answer: Question 9 (5 points) Hans Solo knows that the hyperdrive motivator is going to fail in the next 3 years, and he wants to make sure that he can make the jump to lightspeed the next time he has to escape from the Empire. The motivator will cost 132000 credits, and he can get 8.6% compounded monthly at the Starship bank. How much does he have to deposit now in order to be able to buy the part? Your Answer: Question 7 options: Chewbacca has money to invest. He can either choose to invest with the Solo Investment Company where his money will earn 5.7% compounded quarterly, or with the Skywalker Bank where his money will be able to grow at 5.5% compounded monthly. Which should he choose? Calculate the effective rates for each choice and record your choice. Do NOT add the percent symbol to your answers. Round to two decimal places. Solo Investment Company NOM (0.5 points) Solo Investment Company EFF (1 point) Solo Investment Company C/Y (0.5 points) Skywalker Bank NOM (0.5 points) Skywalker Bank EFF (1 point) Skywalker Bank C/Y (0.5 points) What choice should Chewbacca make? Solo or Skywalker? (1 point)