1. How much should Linda Bryan set aside now to buy equipment that costs $5,600 in one year? The current interest rate is 0.65% annually, compounded annually.

The amount of money to be set aside is: $__

2. Dewey Sykes plans to open a business in eight years when he retires. How much must he invest today to have $12,000 when he retires if the bank pays 5% annually, compounded semiannually?

Dewey Sykes must invest: $___