1. Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period.

$15,000; quarterly payments for 12 years; interest rate 6.3%

The payment should be $____(round to the nearest cent)

2. In order to accumulate enough money for a down payment on a house, a couple deposits $273 per month into an account paying 3% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 3 years?

What is the amount in the account after 3 years?

$____