1. Exactly 12 years ago, you began depositing $850 per month in a retirement savings account paying interest of 6.25% APR, compounded daily. You have decided to change your investment strategy and will now make monthly deposits of $1,000 to a large-cap growth stock mutual fund with an expected annual rate of return of 11%, compounded annually, for the next 20 years until you retire.
   1. How much money is in your account today?
   2. How much will be in your account 20 years from now, when you retire?