Use the PAYOUT annuity formula.

Find Po if d= $1,000 , r=4% , k=1, N=30 years

How much would you need to save every month ( find d) in an account earning 6% interest to have $5000 saved up in 2 years?

a) Use the formula for (savings) annuities and find d

b) How much total money is deposited into the account ?

c) What is the total interest made in 2 years?

_{Use all decimals during the process. Round off to 2 decimal places in the final answer}

Show as much work as possible.