A. You decide to set up a Savings Account for an emergency fund with an initial deposit of $5000. Your account will earn 2% interest compounded quarterly. Determine the amount in the account at the end of 1 year.

B. Given the growth of your business and increased usage, you discover that you have equipment that will need to be replaced in 4 years.

1. Specify one piece of equipment and estimate the cost to replace it at today's price.