Quantitative Problem 1: You deposit $2,100 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? Round your answer to the nearest cent. Do not round intermediate calculations.

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 $10,100 in 6 years to help with a down payment for a home. How much do you need to deposit today to reach your $10,100 goal? Round your answer to the nearest cent. Do not round intermediate calculations.

One can solve for either the interest rate or the number of periods using the FV and the PV equations. The easiest way to solve for these variables is with a financial calculator or a spreadsheet. Quantitative Problem 1 You deposit $2,100 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? Round your answer to the nearest cent. Do not round intermediate calculations. 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 $10,100 in 6 years to help with a down payment for a home. How much do you need to deposit today to reach your $10,100 goal? Round your answer to the nearest cent. Do not round intermediate calculations