Question: 2. One year from today you will set up a bank account and deposit $500. You will continue depositing $500 each year for eleven additional

2. One year from today you will set up a bank

2. One year from today you will set up a bank account and deposit $500. You will continue depositing $500 each year for eleven additional years. In other words, your twelfth and final deposit will be twelve years from today. The bank credits interest at a 5% yearly rate. If you make no withdrawals, what is the balance of your account immediately after the twelfth deposit? 3 . Find the value today of a perpetuity that pays $5,000 per year, with the first payment one year from today. The annual effective interest rate is 5%

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