Q#$1$

If you deposit $$6,485**($see below$)$ today in savings account that earns $8\%$ per year compounded annually, how much will your deposit grow to in $40$ years?

$1\mathrm{.}1$ Draw the timeline:

$1\mathrm{.}2$ Assign values to TVM variable as you would input them in a financial calculator and solve for an answer $($circle the answer$).$

$PV=$

$N=$

$I=$

$PMT=$

$FV=$

Q#$2$

If you deposit $$6485*$ at the end of each year for the next $25$ years in a savings account that earns $5\mathrm{.}5\%$ per year, how much will you have in your account at the end of the ${25}^{th}$ year? number.

Assign values to the TVM variable below as you would input them in your calculator, compute and circle the answer:

$PV=$

$N=$

$I=$

PMT $=$

$FV=$