1. After paying for a deposit for a lounge set, John agreed to settle the balance at 25% per annum over a period of 30 months by paying fortnightly instalments of $79.90. Calculate the deposit rate if the lounge set had a cash price of $3,760.

2. A reitree opted to invest $296,130.00 at 12% per annum in the development phase of a particular LNG project.Supposing the interest is allowed to compound monthly. Calculate the number of months taken for this investment to accrue an interest of $30,981.75