Question: 1. How much must be deposited at the end of each month in an account that earns 8.4%, compounded monthly, if the goal is to

1. How much must be deposited at the end of each month in an account that earns 8.4%, compounded monthly, if the goal is to have $40,000 after 10 years?
2. What is the future value if $1000 is invested for 6 years at 8% (a) simple interest and (b) compounded semiannually?

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