Question: 1. You start working this month and plan to save $67 at the end of each month into the bank account that pays 6.91% compounded

1. You start working this month and plan to save $67 at the end of each month into the bank account that pays 6.91% compounded monthly. How much do you expect to have at the end of 7 years?

Please round your answer to the second decimal without dollar sign. (e.g. 0.00)

2. If you plan to buy a LV bag for your mother's 60th birthday, which will cost you $4,690, in 3 years. How much do you need to deposit today? Assume the bank will pay you annual interest rate of 7.93% compounded quarterly.

Please round your answer to the second decimal without dollar sign. (e.g. 0.00)

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