1. On April 1, 20X4, $12000 was placed in a savings account at 4% compounded annually for 2 years. On April 1, 20X6, the balance was withdrawn and placed in another bank at a 5% interest rate compounded monthly for four years. What is the total balance (original principal + interest earned to-date) in the second account on August 1, 20X8 (28 months after initial deposit date into the second account)?

2. a bank savings account offers 4% compound quarterly interest. You deposit $100 in this account at the start of each month with the first deposit made on January 1st and the last on December 1st. What is the total amount in this account on December 31?