1. John wishes to make a quarterly deposit into his savings account so that at the end of 10 years the account balance will be $10,000. If the account earns 6% annual interest, compounded quarterly, how much should he deposit each quarter?
2. To raise money for a new business, a friend asks you to loan her some money. She offers to pay you $3000 at the end of 4 years. How much should you give her now if you want to earn 12% interest per year on your money?