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. 2. A university is planning a six-year project to upgrade the audio equipment in its teaching rooms. The university must choose between two companies, whose terms are as follows: Purple Hazel Enterprises - 75,000 payable immediately, with technical support costing 14,000 per annum, payable in arrears; . Marianne's Faithful Sounds - 60,000 payable immediately, with free support for the first year, followed by support costs of 20,000 per annum for the next four years, payable continuously, followed by a final lump sum payment of 19,000 at the end of the project (six years). The university's budget for this project is 30,000 per annum, which it receives annually in arrears. The project will run from a single bank account, for which the effective annual interest rates are 2% for a negative balance, and 1% for a positive balance. (a) For each choice, calculate the balance in the university's bank account after six years. Give your answers to the nearest pound. (b) Make a recommendation to the university about which company to choose, stating any as- sumptions made. . 2. A university is planning a six-year project to upgrade the audio equipment in its teaching rooms. The university must choose between two companies, whose terms are as follows: Purple Hazel Enterprises - 75,000 payable immediately, with technical support costing 14,000 per annum, payable in arrears; . Marianne's Faithful Sounds - 60,000 payable immediately, with free support for the first year, followed by support costs of 20,000 per annum for the next four years, payable continuously, followed by a final lump sum payment of 19,000 at the end of the project (six years). The university's budget for this project is 30,000 per annum, which it receives annually in arrears. The project will run from a single bank account, for which the effective annual interest rates are 2% for a negative balance, and 1% for a positive balance. (a) For each choice, calculate the balance in the university's bank account after six years. Give your answers to the nearest pound. (b) Make a recommendation to the university about which company to choose, stating any as- sumptions made

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