1. Suppose Link deposits $135,000 into an account earning 7.285 percent interest, compounded monthly. How many years (rounded to one decimal place for example, 32.1843 year = 32.2) will it take for Link s account to be worth $50,000?

2. If Lisa Hamilton wants to fund a scholarship that would pay $15,500 per year forever at GSU, how much would Lisa have to deposit today if she wanted the scholarship to start paying six (6) years from today? Assume the endowment could earn 4.25% p.a. interest forever.