1. Suppose you deposit $10,500 into a savings account paying 3.75% interest compounded annually. How much money should you deposit into the account at the end of each year in order to have $20,000 in the account at the end of 7 years?
2. Suppose you deposit $12,700 into a savings account paying 3.9% interest compounded weekly. How much money should you deposit into the account at the end of each week in order to have $25,000 in the account at the end of 6 years?
Use difference equations to answer the question.