A local furniture store is advertising a deal in which you buy a $$4,300$ living room set with three years before you need to make any payments $($no interest cost is incurred$).$

How much money would you have to deposit now in a savings account earning $5$ percent APR, compounded monthly, to pay the $$4,300$ bill in three years?

How much would you have to deposit in the savings account each month to be able to pay the bill?

Note: Do not round intermediate calculations and round your final answer to $2$ decimal places.