Any help would be great!

1 Melissa agrees to contribute $500 to the alumni fund at the end of each year for the next 6 years. Shannon wants to match Melissa's gift, but he wants to make a lump-sum contribution. If the current interest rate is 2.5% compounded annually, how much should Shannon contribute to equal Melissa's gift? (Round your answer to the nearest cent.) $ Need Help? _' 011.05 Points] PREVIOUS ANSWERS SMITHNM13 11.6.049. ASK YOUR TEACHER PRACTICE ANOTHER A $1,000,000 lottery prize pays $50,000 per year for the next 20 years. If the current rate of return is 5.25%, what is the present value of this prize? (Assume the lottery pays out as an ordinary annuity. Round your answer to the nearest cent.) $ X Need Help? 311.05 Points] PREVIOUS ANSWERS SMITHNM13 11.6.050. ASK YOUR TEACHER PRACTICE ANOTHER You look at your budget and decide that you can afford $270 per month for a car. What is the maximum loan you can afford if the interest rate is 3% and you want to repay the loan in 6 years? (Round your answer to the nearest cent.) $ X Need Help