Question $12$

$14$ pts

Assume that, starting next year, you will make deposits of $$514$ each year into a savings account. You will make a total of $5$ annual deposits. If the savings account interest rate is $13\%,$ what is the present value of this savings plan?

Enter your answer in terms of dollars and cents, rounded to $2$ decimals, and without the dollar sign. That means, for example, that if your answer is $$127\mathrm{.}5678,$ you must enter $127\mathrm{.}57$

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Question $13$

$14$ pts

Assume that you wish to make annual deposits into a savings account. The interest rate offered by the bank is $7\%,$ and you plan to save for the next $15$ years. If your goal is for the present value of your savings to be equal to $$2,449,$ how much money must you deposit every year?

Enter your answer in terms of dollars and cents, rounded to $2$ decimals, and without the dollar sign. That means, for example, that if your answer is $$127\mathrm{.}5678,$ you must enter $127\mathrm{.}57$