a)Jonathan wants to have one million dollars at retirement, which is 20 years away. He already has $150,000 in a superannuation account earning 7% per year, compounded quarterly. He plans to invest an equal amount at the end of each year over the next 20 years in a growth fund earning 6% per year, compounded annually. How much should be invested into the growth fund each year to reach his target?

b)Blackwall Ltd has a 7-year corporate bonds with par value of $1000 that are priced at $1130.The current market rate on the corporate bonds in a similar risk class is 5.6%.If Blackwall's corporate bonds pay coupons semi-annually, calculate the annual coupon rate as the percentage of par value.