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**walrusdealer** We've been given a job in which we earn $53823.43 p/yr (or 4485.30 p/month)

a) The money that you save over three years will form the deposit on a home. Assuming that over three years your salary does not increase, that you are going to save **15%** of your **gross monthly income** (rounded to the nearest $10) at the **start** of each month, and that the money you save earns **6%** interest **compounding monthly**, show all working to determine the total amount that you will save in this time. any assumptions must be stated.

Show also how the calculator (casio fx9860G) may be used to check your answer.

b) Now assuming that your salary increases by **4% p.a**, that you are going to save **15%** of your **gross monthly income** (rounded to the nearest $10) at the start of each month, and that the money you save earns 6% interest compounding monthly, show all working to determine the total amount that you will save in three years