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  3. bella deposits $x into her bank account today. the

Bella deposits $X into her bank account today. The money is sufficient to support 30...

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Accounting

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Bella deposits $X into her bank account today. The money is sufficient to support 30 quarterly withdrawals of $600 starting in 3 months. The interest rate is 3% p.a. compounded quarterly for the first year and 4% p.a. compounded quarterly thereafter. Which of the following equations can be used to find $X (Only one correct answer)? (2 marks) None of the options gives the correct X. X=600/0.03*(1-1.034-4)+600/0.04*(1-1.04^-26)*(1.03)^-4 X=600/0.03*(1-1.034-4)+600/0.04*(1-1.04^-26) X=600/0.0075*(1-1.0075^-4)+600/0.01*(1-1.01^-26) X=600/0.0075*(1-1.0075^-4)+600/0.01*(1-1.01^-26)*(1.0075)^-4 Calculate X and input your answer below. (Round your answer to 2 decimal places. Do not put unit. Do not use comma separators. E.g. 1234.56) (1 mark)

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