1a) A recent graduate has a goal to have a million dollars by the time she is 55 years old. She is currently twenty-five. Assuming that she can get an interest rate of 8% compounded annually on her investments, how much money must she invest each year to reach her goal?

1b) If the graduate in the previous question is able to invest only $2,000 per year, what interest rate would she need to earn to reach her goal?