Tommaso and Pietro have each been given 1500 euro to save for college

Pietro invests his monthly in an account that pays a nominal annual interest rate of 2.75% compounded half-yearly

(a). Calculate the amount pietro will have in an account after 5 years. Give your answer correct to 2 decimal places

Tommaso wants to invest his money in an account such that his investment will increase to 1.5 times the initial amount in 5 years. Assume the account pays a nominal annual interest of r% compounded quarterly

(b). determine the value of r

Show work but also show work in terms of: for both part (a) and part (b)

N= number of payment periods in total

I% = annual interst rate (as a whole number)

Pv= present value

PMT: payment period

FV: futurevalue

P/Y: number of payments per year

C/Y: mumber of compounding periods per year

(set PMT to end)

All on the Financial applications (math apps) TVM solver of TI-84 calculator