Company wants to accumulate ₺ 25000 at the end of 4 years. It starts quarterly payments in a bank account which pays J4=7% (annual interest rate with quarterly compounding). a) Find the size of...

Company wants to accumulate ₺ 25000 at the end of 4 years. It starts quarterly payments in a bank account which pays J4=7% (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 ₺25000 goal?