1. Joe deposits $3,037 at the beginning of each quarter into an account that pays a nominal rate of 8.2% compounded quarterly, What will be the account balance at the end of 20 years?
2. Suppose you invest £105 savings at the start of each month with interest paid monthly and compounded with a savings rate of 3%. Work out total savings for 6 and 12 months. Must use formulae for compound interest and Geometric series to calculate total investment.