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1. Tom opens an account with $500. He plans on saving $75 each month. The account...

1. Tom opens an account with $500. He plans on saving $75 each month. The account pays 2.3% compounded monthly. Create a table showing how much interest he will earn each month and his monthly balance for the first 5 months his account is open. Do this by hand with just the functions of a scientific calculator. Do not use the website.

2. Lydia saved $1,345,000 for retirement. The money is deposited in an account earning 3.2% compounded monthly. She is going to withdraw $5500 per month for living expenses. Create a table showing how much interest she earns each month and her monthly balance for the first 5 months of her retirement. Do this by hand with just the functions of a scientific calculator. Do not use the website.

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