aryn deposited $12500 in a special account to fund a private education for her niece. The fund earns 6% interest. Taryn wants her niece to withdraw the money evenly over the next 8 years and completely empty the account. How much should the niece withdraw each year? (Round your answer to the nearest dollar)

Jake is going to buy a cabin for $25000 at the end of 8 years. How much does Jake have to save each year to have enough money to pay for the cabin, assuming 6% interest. (Round your answer to the nearest dollar.)