i. Beginning three months from now, you want to be able to withdraw $2,300 each quarter from your bank

account to cover college expenses over the next four years. If the account pays .65 percent interest per

quarter, how much do you need to have in your bank account today to meet your expense needs over the

next four years?

ii. You are planning to make monthly deposits of $300 into a retirement account that pays 10 percent interest

compounded monthly. If your first deposit will be made one month from now, how large will your

retirement account be in 30 years?