Question: Part B: Full Solution Questions (Show all your work). 1. Justin would like to have $7,000 in 5 years. How much would he need to

Part B: Full Solution Questions (Show all your work). 1. Justin

Part B: Full Solution Questions (Show all your work). 1. Justin would like to have $7,000 in 5 years. How much would he need to invest today at 5.25%, compounded semi-annually? (I: 4 marks) A - PC'ER) P-7000 R-5.25/100 = 0.052512 -0.02625 A 7,000 (1.02625)' A = 9,070.47 1,000 N2 * 5 = 10 - $ 2,070.47 to 000, the amount of an

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