Question: This is a 2 part question. To save money for a sabbatical to earn a master's degree, Henry deposits $700 at the end of each

This is a 2 part question.

To save money for a sabbatical to earn a master's degree, Henry deposits $700 at the end of each year in an annuity that pays 6.9% compounded annually. Use the formula for the value of an annuity, shown to the right. P A = a. How much will he have saved at the end of four years? b. Find the interest. . .... a. How much money will be in the annuity four years later? (Do not round until the final answer. Then round to the nearest dollar as needed.)

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