Please help with the steps​

2821.51

73425.64

28124.24

4124.24

Step-by-step explanation:

Effective rate: .058/2 = .029

This question is kind of ambigous and I'll make the assumption that there is no payment at time 0

interested earned:

175000-2821.51*36= 73425.64

2.)

Same assumption as question 1 (there is no payment at time 0)

effective rate: .063/12= .00525

Interest earned: 28124-400*60=4124.24

First problem: monthly payment $2741.99; interest earned $76,288.36

Second problem: amount in account $28,271.90; interest earned $4271.90

Step-by-step explanation:

First problem:

You open an account with a deposit. The deposit is the first monthly payment. This means that this is an annuity in which you pay at the beginning of the pay period. That makes it into an "annuity due."

where A = periodic payment,

F = future value

i = interest rate per compounding period, n = number of compounding periods

Interest earned:

Second problem:

Once again, the account starts with a deposit of the monthly payment, so this is also an annuity due, meaning the payments occur at the beginning of each compounding period. Here, we are given the monthly payment, an d we need to find the future value.

The interest earned is:

answer: was that a question or answer?

step-by-step explanation: