1-Liam Company signed a lease for an office building for a period of 9 years. Under the lease agreement, a security deposit of $8,500 is made. The deposit will be returned at the expiration of the lease with interest compounded at 8% per year.

What amount will Liam receive at the time the lease expires? (Round answer to 2 decimal places, e.g. 25.25.)

Amount at the time the lease expires

2-Lloyd Company earns 12% on an investment that will return $461,000 12 years from now.

What is the amount Lloyd should invest now to earn this rate of return? (Round answer to 2 decimal places, e.g. 25.25.)

Lloyd Company should invest