1) A young couple wishes to accumulate $35,000 at the end of four years so that they may make a down payment on a house. What should their equal end-of-year deposits be accumulate the $35,000, assuming a 6% rate of interest?

a. $7,718

b. $8,000

c. $6,915

d. $8,765

2) The future value of $3,000 deposited at 11% compounded quarterly for each of the next six years is

a. $5,211

b. $5,611

c. $4,976

d. $5,751