1.

(1 pt) A perpetuity pays $540 annually. At the time of the second payment, the value of the entire perpetuity (including the first payment) is $6600. What is the smallest possible effective rate of interest? (Round your answer to four places after the decimal.)

2.

(1 pt) The Little Red-Haired Girl makes quarterly deposits into an account paying an effective interest rate of 2.7% per quarter. The first deposit is $4650, and each subsequent deposit is $150 SMALLER than the previous one. How much is in the account immediately after the 11th deposit?