You want to save $100,000 for a condo that you want to purchase for your mom 4 years after your graduation. When you gr

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You want to save $100,000 for a condo that you want to purchase
for your mom 4 years after your graduation. When you
graduate, what monthly amount would you need to deposit at the
beginning of each month if the investment account that you are
using to save earns an 8% per annum return? What are the
formula and the value?
You have set up a charity in which you and your friends contributed
$200000 in donations. The investment earns 8% per year.
You have promised to donate money to a school every quarter
for 4 years. Calculate the payment that can be made quarterly
to the school if the payment is made at the end of each
quarter. What is the formula and amount that can be paid
quarterly?