A local furniture store is advertising a deal in which you buy a $4,000 dining room set and do not need to pay for two years (no interest cost is incurred).

How much money would you have to deposit now in a savings account earning 4 percent APR, compounded monthly, to pay the $4,000 bill in two years?(Do not round intermediate calculations and round your finalanswer to 2 decimal places.)

present value $_____

How much would you have to deposit in the savings account each month to be able to pay the bill?(Do not round intermediate calculations and round your finalanswer to 2 decimal places.)

Annuity payment $_____