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Question 1 (20 pts): Your sponsor open up a special university education account for you at a local bank. A) They will deposit $4,000 in
Question 1 (20 pts): Your sponsor open up a special university education account for you at a local bank. A) They will deposit $4,000 in this account on your behalf at the end of each year for the next 10 years. The account will earn 8 percent interest per year compounded annually. How much money will you have in this account in 10 years? B) How much money will accumulate in this account if they deposit the money at the beginning of each year which will earn same amount of interest but compounded quarterly
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