Future Value of a Single Payment

If you deposit $13,000 in a bank account that pays 7% interest annually, how much will be in your account after 5 years? Do not round intermediate calculations. Round your answer to the nearest cent.

$

umber of Periods for an Annuity

You have $62,296.01 in a brokerage account, and you plan to deposit an additional $5,500 at the end of every future year until your account totals $290,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal? Do not round intermediate calculations. Round your answer to the nearest whole number.

years