#2 and an explantion would be awesome

ULTIPLE-CHOICE PROBLEM MULTIPLE chapter 7 A sample of multiplech problems are avail nple of multiple choice problems is provided below. Additional multiple choice ms are available at money-education.com by accessing the Student Practice Portal 1. Steve and his wife enough to purchase account will guarante d his wife Christine recently opened an investment account with the intention of saving h to purchase a house. Their goal is to have $45,000 for a down payment in 5 years. Their + will guarantee them a return of 8% compounded annually. How much do they need to put into the account right now to reach their goal? a. $30,626.24. b. $39,546.09. c. $46,778.96. d. $51,214.75. Colleen's grandfather set up a savings account for her with a $25,000 gift when she was first born. The account accumulated interest annually at a rate of 6% per year and no other deposits were made to the account. Colleen is 21 years old today. To date, how much has accumulated in Colleen's account? a. $79,231.88. b. $84,989.09. c. $98,656.75. d. $101,378.92 3. Alberto saved enough tip money from working at the casino to place $125,500 in an investment account generating 9.25% compounded monthly. He wants to collect a monthly income of $1,350, at the beginning of each month, for as long as the money lasts. Approximately, how many months will Alberto have this income coming to him? a. 139. h 14