Problem $3.$

You own an apartment that you rent out to your friend. The rent is $$950$ per month and is due at

the beginning of each month. You invest your monthly rent income in the deposit account paying

$5\%$ annual interest. What is the value of your deposit account in $3$ years?

Q$6.$ Show the complete formula $($not the calculator shortcuts$)$ with all the necessary terms that

you would use to solve the problem as if you didn't have a financial calculator on hand.