1.

Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)

$90,000 in a fund paying 5% per year, with monthly payments for 10 years

PMT = $

2.

Find the amount accumulated FV in the given annuity account. HINT [See Quick Example 1 and Example 1.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)

$450 is deposited monthly for 16 years at 6% per year

FV = $