Question

8. You want to withdraw $ 24,728 from your account at the end of one year...

8. You want to withdraw $ 24,728 from your account at the end of one year and $ 55,664 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals? Your account pays 11 percent p.a. (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).

10. You deposit $ 61,680 in your account today. You make another deposit at t = 1 of $ 78,773 . How much will there be in your account at the end of year 2 if the interest rate is 13 percent p.a.? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).

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