1. To pay for your? child's education, you wish to have accumulated ?$19,000 at the end of 13 years. To do? this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 13 percent compounded? annually, how much must you deposit each year to obtain your? goal?
2. At the same rate of non-zero interest the present value of a level payment annuity imediate of 4n payments of $R is 3/2 the present value of a 2n payment annuity immediate with the same payment. What is the present value of an annuity of 6n payments of $R in terms of the present value of the annuity of n payments?