A local furniture store is advertising a deal in which you buy a $2,300 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 6 percent APR, compounded monthly, to pay the $2,300 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 monthearning 6 percent APR to be able to pay the bill? (Do not round intermediate calculations and round your finalanswer to 2 decimal places.)

Annuity Payment _______per month