Bob Loblaw wants to save $14,000 to buy new office equipment in 2 years.

- How much would he need to deposit in an account that pay a 5.5% annual interest rate, compounded monthly to reach his goal?

- Bob decides that this is too much money to set aside right now (he has bills to pay!), so instead he decides to make fixed monthly deposits in the same account to reach his goal. How much does he need to deposit each month?

- Bob founds out his business qualifies for a special 7% annual interest savings account, but interest is compounded quarterly. He still plans on making fixed deposits. What quarterly deposit amounts does he need to reach his goal of $14,000 saved in two years? For which account (5.5% compounded monthly or 7% compounded quarterly) does he gain more interest?