1. A favorite aunt wishes to establish a trust fund for her nephew's math education. How much should she set aside now if she wants $30,000 in 7 years from now, and interest is compounded continuously at 5%? Exact amount (without using a calculator) =______ dollars Amount, rounded to 2 decimal places = _____ dollars

2. A favorite uncle wishes to establish a trust fund for his niece's math education. How much should he set aside now if he wants $75,000 in 3 years from now, and interest is compounded semiannually at 6%? Exact amount (without using a calculator) =_____ dollars Amount, rounded to 2 decimal places = _____ dollars