1- after winning some money as a prize, John is considering purchasing an annuity that promises to pay him $300 at the end of each month for one year, then $350 at the end of each month for two years, if the first payment is due at the end of the first month and interest is 6.5% compounded annually over the life of the annuity, find john's purchase price.?
2- for the last five years steve has made deposits of $250 at the end of every six months earning interest at 4.5% compounded semi-annually
A- compute the accumulated balance in his account at the five years period
B- if he leaves accumulated balance for another five years at 5.5% compounded quarterly, compute the accumulated balance in steve account after ten years period