Harriet just inherited $50,000,000. She knows nothing about money management and has decided to educate herself in that area before making any major decisions. She has a short-term investment for that period. She has the choice between two investments:
Investment A: at 6.5% compounded daily
Investment B: at 7% compounded semi-annually

i. Which option should she choose and why? (5 marks)
B. Harry is saving towards the down payment on a house. If he accumulates $5,000,000, his parents have offered to match his savings. He invests $2,000,000 at 9%.
i. How long will it be before he can approach his parents for their contribution?