A self employed person has a 401(k) retirement plan with The Hartford. If deposits of $130 are made each month into the retirement plan that pays 5.5% interest compounded monthly, how much will be in the account after 20 years? How much interest will the person have earned? Round your answers to the nearest cent. Show all steps.

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I'm very confused on how i'm doing these problems. For the firstproblem I got $61,856.44 total, $23,256.44 of it is interest. That$61,856.44 is then inserted to the normal compound interest formulaand we get $243,800.78 with an interest of $205,200.78

I'm mostly caught up on #3 and I'm having a lot of difficultyeven getting it started.

For a eight year period, Mike deposited $600 each quarter intoan account paying 3.6% annual interest compounded quarterly. (Roundyour answers to the nearest cent.)

(a) How much money was in the account at the end of 8 years?Show work.

(b) How much interest was earned during the 8 year period? Showwork.

Mike then made no more deposits or withdrawals, and the money inthe account continued to

earn 3.6% annual interest compounded quarterly, for 5 moreyears.

(d) How much interest was earned during the 5 year period? Showwork.

Please answer both questions please. Thank you

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