KarenOgleby wants to accumulate $41,600to use for an around the world trip. She plans to accumulate the desired amount by depositing $5,720annual-year-end payments into an account at the National Bank which pays4% interest, compounded annually.(Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 2 decimal places, e.g. 458,581.50.)

1.Compute the account balance at the end of the sixth year.

2.Compute the amount of each payment thatKarenmust make at the end of each of the six years to accumulate the $41,600.