1Find the present value of an annuity of $9000 paid at the end of each 6-month period for 2 years if the interest rate is 7%, compounded semiannually. (Round your answer to the nearest cent.)

2With a present value of $125,000, what is the size of the withdrawals that can be made at the end of each quarter for the next 10 years if money is worth 6.3%, compounded quarterly? (Round your answer to the nearest cent.)