1)In the fall of 2023, Harry Potter will receive $40,000 dollars from Gringotts Wizarding Bank. He will pay $15,000 immediately toward his school tuition at Hogwarts. The sum of $15,000 will cover his entire tuition for this year. How would you organize the remaining $25,000 in an annuity for Harry to help him pay for his annual monthly expenses?

2)If Harrys tuition was $35,000 instead of $15,000, leaving him a balance of $5,000 for his living expenses for the year does it change your mind with respect to his annuity investment? Please explain. Please give 2 reasons.