Carlos wants to save $393,000.00 to buy a new sports car. He makes deposits of $2,948.78 every year into an investment account (at the start of each period) and it takes 36 periods to reach the target amount. What nominal interest rate i⁽²⁾ does his investment account pay? (Answer to the nearest 0.1%.)

Stefano has a 12 year annuity due making annual payments that grow geometrically at the rate 1.250%. The first payment is $4250.00 and the interest rate is i⁽³⁶⁵⁾ = 7.750%$. What is the present value of his annuity?