2. You want to buy a new ski boat 2 years from now, and you plan to save $8,200 per year, beginning one year from today. You will deposit your savings in an account that pays 6.2% interest. How much will you have just after you make the 2nd deposit, 2 years from now? 3. You want to quit your job and go back to school for a law degree 4 years from now, and you plan to save $3,500 per year, beginning immediately. You will make 4 deposits in an account that pays 57% interest. Under these assumptions, how much will you have 4 years from today? 4.1f sales grow at 5% per year, how long before sales double? 5, Bank A pays 4% interest compounded annually on deposits, while Bank B pay 3.5% compounded daily. Based on the EAR (or EFF%), which bank should you use? Explain. (hint: calculate each EAR and then compare two EARs. 2. You want to buy a new ski boat 2 years from now, and you plan to save $8,200 per year, beginning one year from today. You will deposit your savings in an account that pays 6.2% interest. How much will you have just after you make the 2nd deposit, 2 years from now? 3. You want to quit your job and go back to school for a law degree 4 years from now, and you plan to save $3,500 per year, beginning immediately. You will make 4 deposits in an account that pays 57% interest. Under these assumptions, how much will you have 4 years from today? 4.1f sales grow at 5% per year, how long before sales double? 5, Bank A pays 4% interest compounded annually on deposits, while Bank B pay 3.5% compounded daily. Based on the EAR (or EFF%), which bank should you use? Explain. (hint: calculate each EAR and then compare two EARs