Question
1. You wish to save $3500 at the end of 5 years by depositing in$200 into your savings account today, $400 in 1 year, $600
1. You wish to save $3500 at the end of 5 years by depositing in$200 into your savings account today, $400 in 1 year, $600 in 2 years, $800 in 3 years, and $900 in 4 years. What interest rate must you earn to reach to goal? Express your answers as a percentage. (Enter only numbers and decimals in your response. Round to 2 decimal places.)
2. You deposit $100 into your savings account today, $200 in 1 year, $300 in 2 years. How much will you be able to withdraw at the end of 3 years if the interest rate is 6%? (Enter only numbers and decimals in your response. Round to 2 decimal places.)
Please show how I could enter it into a TI84 calculator and what formula used on paper so I can learn from it. Thanks in advance!
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