Question: 1. You have an automatic investment account in which $200 of your checking account is electronically transferred to a money market account each week (starting one week from now). If the account has an interest rate of 6% per year compounded daily, how much money will you have after 2 years?
2. Find the semiannual deposit (beginning in month 6) required to accumulate $5,000 in 5 years at a nominal 6% per year compounded monthly.