1. You are considering investing in a bank account that pays a nominal annual rate of 15%, compounded monthly. If you invest $5,000 at the end of each month, how many months will it take for your account to grow to $250,000? (Round your answer to 2 decimal places.)

2. Ellen now has $1200. How much would she have after 11 years if she leaves it invested at 10% with annual compounding? (Round your answer to 2 decimal places.)