1. Assume that you deposit $ 779 each year for the next 15 years into an account that pays 13 percent per annum. The first deposit will occur one year from today (that is, at t = 1) and the last deposit will occur 15 years from today (that is, at t = 15). How much money will be in the account 15 years from today?.
2. How much must you deposit in an account today so that you have a balance of $ 5,836 at the end of 15 years if interest on the account is 12 % p.a., but with quarterly compounding?