1. According to Forbes’ Real Time Billionaire List, Elon Musk is now the world’s
wealthiest person with a net worth of $287.7 billion dollars. Let’s put this number in perspective. Imagine you can live a really long time and started working when the declaration
of independence was signed in 1776. You work every day, every year, from July 4, 1776 to July
4, 2021. How much money would you need to earn every day for your total earnings to equal
$287.7 billion? Show your work for each step. Use 1 year = 365.25 days in your work.

Suppose you want to purchase a $22,000 car for cash in 4 years. You plan to make monthly deposits into an account earning 4%/year compounded monthly. How much must you contribute each month to make your savings goal? To show your work, write the formula you
will use with the values in it. Use a calculator for the calculations part. Include units in your
answer.