Annuity: Mr. West wishes to purchase a condominium for $240,000 cash upon his retirement 10 years from now. How much should he deposit at the end of each month into an annuity paying 2.7% interest compounded monthly in order to accumulate the required savings?
On the same day, Jesse deposits $1,000 in each of the following banks. Bank A pays 12%
compounded annually; Bank B pays 12% compounded semi-annually; Bank C pays 12%
compounded quarterly; Bank D pays 12% compounded monthly; Bank E pays 12%
compounded daily. If he did not withdraw any money, how much will he have in each bank
after 1 year?