You deposit $1,200 into an account that earns 1.75 percent interest in three years. If you deposit an additional $1,200 in the same account 2 years later, how much would be in the account six years from now?

Question 1: Show your explanation of the answer, showing the financial calculator inputs and outputs.

Question 2: What is the time value of money? Explain the concept using your answer to the above Question 1.