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1) You are saving up for your child's braces. you know you need $5,000 in 3 years when all his adult teeth have grown in.

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1) You are saving up for your child's braces. you know you need $5,000 in 3 years when all his adult teeth have grown in. If your bank offers 4% interest, how much must you deposit today? Write a complete sentence. 1 . 1 2) If your bank account compounded monthly, how much money must you deposit today? Why is i this number different from your answer in part 1? Write complete sentences

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