Calculate annuity cash flow

1. Your goal is to have $17500 in your bank account by the end of 9 years. If the interest rate remains constant at 4% and you want to make annual identical deposits, how much will you need to deposit in your account at the end of each year to reach your goal?

• 1984.36
• 1653.63
• 1157.54
• 1488.27

2. If your deposits were made at the beginning of each year rather than at the end, by how much would the amount of your deposit change if you still want to reach your goal by the end of 9 years?

• 60.42
• 85.86
• 54.06
• 63.60