1 You expect to make equal payments of $9670.00 at the end of each month over the next 9 years into a new bank account earning interest at 8%. What is the future value of the annuity stream, if the frequency of compounding is 12 times per year?
2. You expect to make equal payments of $8940.00 at the end of each of the next 3 years into a new bank account earning interest at 4%. What is the future value of the annuity stream?