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a. You plan to make five deposits of $1000 each,one every 6 months,with the first payment being made in 6 months. You will then make

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a. You plan to make five deposits of $1000 each,one every 6 months,with the first payment being made in 6 months. You will then make no more deposits. If the bank pays 4% nominal interest, compunded semiannually,how much money will be in your account after 3 years? Do not round inteediate calculations. Round your answer to the nearest cent.
b. one year from today you must make a payment of $6000. To prepare for thus payment, you plan to make two equal quaterly deposits (at the end of Quarters 1 and 2) in a bank that pays 4% nominal interest compounded quarterly. How large must eacg of the two paykents be? Do jot round intermediate calculations. Round your answer to the nearest cent.
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