1. Suppose $100 is placed in a saving accounts at the end of each month for 50 months. If no further deposits are made,

1. How much is in the account after seven years, and
2. How much of this amount is compound interest? Assume that the saving accounts pays 9% compounded monthly.
3. Equal payments are to be deposited in a saving account at the end of each quarter for 15years so that at the end of that time there will be $5000. If the interest is at 3% compounded monthly, find the amount of each payment.