1.How much should you pay today for a 10 year annuity that will provide annual payments of $10,000? Assume an interest rate of 4%.(Make sure to keep 2 decimals in your final answer)

2.You plan on making deposits of $1,000 into a savings account at the end of every year in college. If you graduate in 5 years and the account earns an annual rate of 8% hot much will you have at graduation.(Make sure to keep 2 decimals in your final answer)