1. The parents of a 5-year old child wish to have $250,000 when the child starts college at the age of 18. How much should they deposit monthly in an account that pays 4.5% compounded monthly to achieve their goal?

2. A 25-year old saves for retirement by making monthly deposits of $1000 in an account that pays 4.9% compounded monthly. How much would be in the account at retirement age of 65?

Please provide answers ASAP.

Thanks