Question 4 [5 points] Jason puts $8,000 in a 4 month term deposit, earning a simple interest rate of 6.25%. After the 4 months, he then takes the present value (or principal) and the interest from the first investment and puts it in another term deposit with exactly the same conditions. a) What amount of interest would be earned on the first term deposit? For full marks your answer(s) should be rounded to the nearest cent. Interest on first term deposit = $ 0.00 b) What amount of interest would be earned on the second term deposit? For full marks your answer(s) should be rounded to the nearest cent. Interest on second term deposit = $ 0.00 c) What would the interest rate have to be on an 8 month term deposit to give the same return on Jason's money? Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56%. Equivalent interest rate required for full period = 0.00 %