1) A group of city developers has begun planning a new community. They project that every three months, a total of 70 new residents will move into the community. They also project that, aside from new residents, the community’s population will grow at a rate of 4% per year (due to normal population changes resulting from births and deaths). If these projections are correct, what will the community’s population be in 17 years?
2) Brad has nothing in his savings account right now, but realizes it would be a very good idea to build up a savings balance. His account pays 2.2% interest. How much should he deposit every 40 days if he wants to have $13,000 in this account in 5 years?