Refer to the answers given for the preceding exercise.

Required:

1. Refer to requirement (1) of the preceding exercise. Prepare a display similar to Exhibit II–1 to show how your accumulation grows each year to equal $5,487.50 after six years.

2. Refer to requirement (4) of the preceding exercise. Prepare a display similar to Exhibit II–3 to verify that $32,331 is the amount you need to fund your educational expenses.