Question 29 (updated)

2. You plan to make five depesits of $1,000 each, one every 6 months, with the first payment being made in 6 months. You will then make no more deposits. If the bank pays 4% nominat interest, compounded semiannually, how much will be in your sccount after 3 years? Do not round intermediate calculaticns. Round your answer to the nearest cent: st b. One year from today you must make a parment of $9,000. To prepare for this payment, you plan to make two equsl quarterly deposits (at the end of Quarters 1 and 2 ) in a bank that pays 4K nominal interest compoundod quarterly. How large must each of the two payments be? Do not round intermediate calculations. Round yeur answer to the nearest cent