Question: Solve the problems below. Be sure to show your work. If you use the formula, be sure to write it out a long with each

Solve the problems below. Be sure to show your work. If you use the formula, be sure to write it out a long with each step.

A local furniture store is advertising a deal in which you buy a $3,500 living room set with 3 years before you need to make payments (no interest is incurred). How much would you have to deposit each month in a savings account earning 3.5% APR, compounded monthly, to be able to pay the $3,500 bill in three years?

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