Hamilton wants to accumulate ₺ 100.000 at the end of 4 years. It starts quarterly payments in a bank account which pays J4= 6 % (annual interest rate with quarterly compounding). a) Find the size of quarterly payments.  b) If, after 2 years, bank switches the rate to J4= 8%, what would be the size of quarterly payments for last 2 years required to meet the ₺ 100.000goal?

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A:

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