A local furniture store is advertising a deal in which you buy a $$2,800$ 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 $5$ percent APR, compounded monthly, to pay the $$2,800$ bill in two years?

How much would you have to deposit in the savings account each month earning $5$ percent APR to be able to pay the bill?