8. Fydor wants to save up $20,000 in three years for a new car. He can invest in a fund earning a 15% rate of return, compounded monthly. How much must he deposit into the fund today to have the necessary funds in three years? Round to two decimal places. 9. Jack takes out a payday loan for $1000. In one month, he must pay back the loan plus $100 in interest. Assuming monthly compounding, what is the annual interest rate (APR) he is being charged? Submit your answer as a percentage and round to two decimal places