Question: 1 . Cam saved $ 2 0 0 each month for the last four years while he was working. Since he has now gone back

1.Cam saved $200 each month for the last four years while he was working. Since he has now gone back to school, his income is lower and he cannot continue to save this amount during the time he is studying. He plans to continue with his studies for two years and not withdraw any money from his savings account. Money is worth 4.5% compounded monthly.
(a) How much will Cam have in total in his savings account when he finishes his studies?
(b) How much did he contribute?
(c) How much will be interest?
2.For how long will Kale have to make payments of $318.00 at the end of every six months to repay a loan of $3664.00 if interest is 7% compounded semi-annually? State your answer in years and months(from 0 to 11 months).
Kale will have to make payments for
year(s) and month(s).

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