Question: Please Solve both 1) 2) How long will it take to save $2542.00 by making deposits of $166.00 at the end of every six months

Please Solve both

1)

Please Solve both 1) 2) How long will it take to

2)

save $2542.00 by making deposits of $166.00 at the end of every

How long will it take to save $2542.00 by making deposits of $166.00 at the end of every six months into an account earning interest at 6% compounded semi-annually? State your answer in years and months (from 0 to 11 months). It will take year(s) and month(s). The nominal annual rate of interest is \% compounded monthly. (Round to two decimal places as needed.)

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