1) Recently, More Money 4U offered an annuity that pays 4.8% compounded monthly.If $840 is deposited into this annuity every month, how much is in the accountafter 7 years? How much of this is interest?Type the amount in the account: $________Round to the nearest dollar.Type the amount of interest earned: $_______Round to the nearest dollar.2) In order to accumulate enough money for a down playment on a house, a couple deposits$475 per month into an account paying 6% compounded monthly. If payments are made at theend of each period, how much money will be in the account in 5 years?Type the amount in the account: $___(Round to the nearest dollar.)3) Acme Annuities recently offered an annuity that pays 4.5% compounded montly. What equalmontly deposit should be made into this annuity in order to have $144,000 in 20 years?The amount of each deposit should be: $___(Round to the nearest cent.)
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