Question: Quantitative Problem 1 : You deposit $ 2 , 2 0 0 into an account that pays 4 % per year. Your plan is to

Quantitative Problem 1: You deposit $2,200 into an account that pays 4% per year. Your plan is to withdraw this amount at the end of 5 years to use for a down payment on a new car. How much will you be able to withdraw at the end of 5 years? Do not round intermediate calculations. Round your answer to the nearest cent.
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Review the FV definition and its equation.
Be careful about the order of mathematical operations if using the equation.
If using a financial calculator, be careful about the meaning of the negative sign and remember to include PMT =0(or be sure to clear all registers before starting this problem).
Quantitative Problem 2: Today, you invest a lump sum amount in an equity fund that provides an 9% annual return. You would like to have $10,400 in 6 years to help with a down payment for a home. How much do you need to deposit today to reach your $10,400 goal? Do not round intermediate calculations. Round your answer to the nearest cent.
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Quantitative Problem 1: You deposit $2,200 into an account that pays

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