1. Jordan won a lottery that would pay him $48,000 in 3 years and $10,800 in 6 years. The lottery company had another option where he could get an upfront amount now and another $10,000 in 3 years.

Calculate the upfront amount that he would receive now from the second option, assuming that money is worth 4.00% compounded semi-annually.

2. Shamrock Inc. was supposed to have received a payment of $27,000, 5 years ago, and $14,000, 2 years ago, from a customer who could not make either payment as scheduled. If the customer would like to settle both payments today, what amount would he have to pay Shamrock Inc. if interest of 4.98% compounded quarterly is charged?