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How much should liz have in a savings account

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Question 1: How much should Liz have in a savings account that is earning 2.50% compounded quarterly, if she plans to withdraw $1,300 from this account at the end of every quarter for 10 years?

Question 2: Falco Inc. financed the purchase of a machine with a loan at 4.13% compounded monthly. This loan will be settled by making payments of $7,900 at the end of every month for 5 years.

a. What was the principal balance of the loan?

b. What was the total amount of interest charged?

Reference no: EM132555140

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