1)

Mary Poppins deposits $2,200 at the end of each quarter for 20 years into an account paying 7% compounded quarterly.

(a) How much money is in Mary's account after 5 years? (Round your answer to the nearest cent.) $ (b) How much money is in Mary's account after 6 years? (Round your answer to the nearest cent.) $

(c) How much money interest does Mary earns during the 6th year (from year 5 to year 6)?

2) (a) Joe Blow deposits $1,200 at the end of each quarter for 20 years into an account paying 7% compounded quarterly. How much is in Joe's account at the end of the 20 years? (Round your answer to the nearest cent.) $

(b) How much interest does Joe earns on his deposits? $

3)

A young executive deposits $300 at the end of each month for 6 years into an account that earns 6% compounded monthly. How much is in the account after the 6 years? (Round your answer to the nearest cent).

$

The executive then changes the deposits in order to have a total of $400,000 after 25 total years. What should be the revised monthly payment in order to meet the $400,000 goal? (Round your answer to the nearest cent).

$

How much interest is earned during the 25 years?

$