Elizabethwants to buy a car when she graduates from Central University6years from now. She believes that she will need $29,500to buy the car.

Click here to view the factor table.

https://education.wiley.com/content/Davis_Managerial_Accounting_4e/media/simulations/pv_tables/Tables_App_9-1_9-2.pdf

(a)Calculate how much moneyElizabethmust put into her savings account today to have $29,500in6years, assuming she can earn12% compounded annually.(For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,975.)

Amount$

enter a dollar amount

(b)Calculate how much moneyElizabethmust put into her savings account today to have $29,500in6years, assuming she can earn12% compounded semiannually.(For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,975.)

Amount$

enter a dollar amount