Question: please help me with these 2 problems 3 Question 1 (2 points) You want to have $100,000 in your savings account 5 years from now,
please help me with these 2 problems
3 Question 1 (2 points) You want to have $100,000 in your savings account 5 years from now, and you are prepared to make equal annual payments into the account at the end of each year. If the account pays 5% interest, what amount must you deposit each year? 1) $23,097 2) $15,989 3) $18,097 4) $12,589 Question 2 (2 points) You want to save money for retirement so you decide to make regular payments of $2,000 per year for 20 years. If you make the first payment at the end of this year and earn 7% interest, how much will you have accumulated in 20 years? 1) $81.990 2) $40,000 3) $21,880
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