FV of a Combination of a Single Lump Sum and a Series of Multiple Equal Sums (annuity): Hellen is planning to retire after 15 years. In preparation for retirement, Hellen invested $2,000 in a savings account that pays 5.5% interest per year compounded monthly. In addition to the $2,000, Hellen is planning to deposit $120 at the end of each month in the same account for the next 15 years.

Answer the following two questions.

How much will be in the savings account after 15 years right before retirement =

How much would be the total interest earned by Hellen in this plan =

Answers to 2 decimal places