1. If you desire to have $38300 for a down payment for a house in 11 years, what amount would you need to deposit today? Assume that your money will earn 4 percent.

2. Pete Morton is planning to go to graduate school in a program of study that will take 3 years. Pete wants to have $18100 available each year for various school and living expenses. If he earns 6 percent on his money, how much must be deposit at the start of his studies to be able to withdraw $18100 a year for 3 years?

Can you please answer both questions?