Question $7(8$ points$)$

You have just deposited $x$ dollars in your bank account that pays interest of $22$

percent p$.$a$.$ You discover that at the end of one year you have $$21,859$ in the

account. What was $x,$ that is$,$ the amount of money that you deposited today?

$($Record your answer without a dollar sign, without commas and round your answer

to $2$ decimal places; that is$,$ record $$3,245\mathrm{.}847$ as $3245\mathrm{.}85).$

Your Answer:

Answer

Question $8(8$ points$)$

You want to withdraw $$23,714$ from your account at the end one year and $

$57,667$ at the end of the second year. How much should you deposit in your account

today so that you can make these withdrawals? Your account pays $5$ percent p$.$a$.$

$($Record your answer without a dollar sign, without commas and round your answer

to $2$ decimal places; that is$,$ record $$3,245\mathrm{.}847$ as $3245\mathrm{.}85).$