Suppose you deposit $4,500 at the end of each of the next 25…

Suppose you deposit $4,500 at the end of each of the next 25 years into an investment account earning 8.6 percent interest per year.(a) How much money will you have in the account after 25 years?(b) How much will you have if you continue making the same deposits for 45 years?

Prepare an amortization schedule for a four-year loan of $42…

Prepare an amortization schedule for a four-year loan of $42,000. The interest rate is 7 percent per year, and the loan calls for equal annual payments.(a) How much interest is paid in the second year?(b) How much total interest is paid over the life of the loan?