1.Kris is considering an investment that will pay $5,000 a year for 4 years, starting one year from today. How much should she pay for this investment if she wishes to earn a 12 percent rate of return? (enter your answer as a number with two decimals i.e. 41.25)

2.Your parents just gave you a gift of $20,000. You are investing this money for 7 years at 3 percent. How much money will you have at the end of the 7 years? (enter your answer with two decimal points i.e. 15.33)