1.Vincent deposits $600 at the end of every quarter for 7 yearsand 3 monthsin a retirement fund at 3.62% compounded monthly.

a.What type of annuity is this?

Ordinary simple annuity

Ordinary general annuity

Simple annuity due

General annuity due

b.How many payments are there in this annuity?

Round up to the next payment

2.How much should Timothy have in a savings account that is earning 2.75% compounded quarterly, if he plans to withdraw $2,350 from this account at the end of every quarter for 8 years?

Round to the nearest cent