Question: ***THIS IS A CONTEMPORARY MATHEMATICS PROBLEM*** Suppose that you earned a bachelor's degree and now you're teaching high school. The school district offers teachers the

***THIS IS A CONTEMPORARY MATHEMATICS PROBLEM***

Suppose that you earned a bachelor's degree and now you're teaching high school. The school district offers teachers the opportunity to take a year off to earn a master's degree. To achieve this goal, you deposit $4000 at the end of each year in an annuity that pays 8% compounded annually.

a.

How much will you have saved at the end of five years?

b.

Find the interest.

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