Question 1 John made equal monthly (end-of-the-month) deposits into an account for 10 years (total of 120 deposits). He then made equal monthly (end-of-month) withdrawals (the first withdrawal occurs one month after the last deposit) of $1,000 for the next 12 years (total of 144 withdrawals), reducing the balance to zero. The account pays 8.4 percent per year compounded monthly. What was the monthly deposit?