1. Beginning three months from now, you want to be able to withdraw $1700 each quarter from your bank account to cover college expenses over the next 4 years. The account pays 1.25 percent interest per quarter. How much do you need to have in your account today to meet your expense needs over the next 4 Years?
2. Miley expects to receive the following payments. Year 1 = $50000; Year 2 = $28000; Year 3 = $12000. All of these money will be saved for her retirement. If she can earn at average of 10.5% on her investment, how much will she have in her account 25 years after her first deposit?