Question 11 (1 point) A special payment scheme is set up to put in $tK at time t starting at time 1. Payments are made at the end of each year for 20 years and earn 6% annual effective interest. The present value at time 0 of payments under this scheme is $39,480.15. Calculate K. a) 450 b) 425 c) 500 d) 400 e) 475 Question 12 (1 point) $500 is deposited into Account A earning 4% simple interest and grows to $X after 5 years. $450 is deposited into Account B earning 3.5% simple discount. After t years, the accumulated amount in Account B is $X. Calculate t. a) 5.26 b) 7.14 c) 2.12 d) 8.46 e) 9.52