1.Kenneth's retirement fund has an accumulated amount of $50,000. If it has been earning interest at 5.14% compounded monthly for the past 23 years, calculate the size of the equal payments that he deposited at the beginning of every 3 months. $0.00

2.Morgan leased equipment worth $60,000 for 7 years. If the cost of borrowing is 4.66% compounded semi-annually, calculate the size of the lease payment that is required to be made at the beginning of each half-year.