1. Matt has saved $85,600.00. If she decides to withdraw $2,922.00 at the beginning of every month and interest is 9.14% compounded semi-annually, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months).

His last withdrawal will occur ( ) year(s) and ( ) month(s) from now.

2. What is the nominal annual rate of interest compounded quarterly on a lease valued at $42,775.00, if payments of $5550.00 are made at the beginning of every six months for

4 years?

The nominal annual rate of interest is ( ) %.