I have two financial questions that I need help in?

Ok, I tried these two problems and I am lost. I tried like 10 times and still nothing so if anyone can please help me on these two problems, I will appreciate it. Explain how you got your answer as well so I can understand


1) Marie needs $26,000 as a down payment for a house 4 years from now. She earns 5.25 percent on her savings. Marie can either deposit one lump sum today for this purpose or she can wait a year and deposit a lump sum. How much additional money must Marie deposit if she waits for one year rather than making the deposit today?


A)$1,112.36


B)$911.13


C)$1,348.03


D)$878.98


E)$1,420.18





2)Swenson %26amp; Swenson just decided to save $2,200 a month for the next 6 years as a safety net for recessionary periods. The money will be set aside in a separate savings account which pays 5.5 percent interest compounded monthly. They deposit the first $2,200 today. If the company had wanted to deposit an equivalent lump sum today, how much would they have had to deposit?|||Hey Rex,


This is for question 2.





I don't know whether or not you are using a financial calculator, but heres how i answered it





You know that:


I/Y%: 5.5%


N: 72 (12*6 years)


PMT: 2,200


PV: 0





So FV= $187,161.51





To deposit one lump sum today and reach the same figure, do the following:





I/Y%: 5.5%


N: 72


Pmt: 0 (since there are no additional deposits)


FV: $187,161.51





So PV= $134,656.34





They would need to deposit that amount to reach the same figure as they would if they deposited monthly.