1. Jacob is going to receive a 25-year annuity of $10,000 per year, with the first payment beginning eight years from now (i.e., at t*8). Dan is going to receive a perpetuity of $10,000 per year, also beginning at t-8. If the appropriate interest rate is 6 % per year, compounded annually, how much more is Dan's cash flow worth today? 2. You are determined to be a millionaire when you retire in 35 years (1-35). If you can earn 9% per year, compounded annually, how much do you have to invest today? What would your answer be if the retum (9%) is compounded monthly