1) Immer and Mays are both saving for retirement in 35 years. Immer starts immediately and deposits $175.00 per month into a retirement account with an interest rate of 6% which is compounded annually. Mays waits for 15 years before she starts depositing money in her retirement account at 6% compounded annually. How much money will Mays need to deposit into her account each month to end up with the same amount of savings as Immer when they both retire?

2) Hadi has found a car he would like to purchase and he needs to finance $15,000 of the sticker price to buy this car. He can afford no more than $282/month for payments over 5 years. What annual percentage rate (APR) will make it possible for him to afford this car?