Major Aviation has borrowed $120 million at 8 percent per year compounded semi-annually. The principal and interest are due in 10 years. How much does Major Aviation have to pay in 10 years to pay off the loan?

Global Aviation Group is planning to accumulate $5,000,000 in six years for future expansion. How much does Global Aviation have to set aside today earning 8 percent interest rate per year compounded quarterly to accumulate $5,000,000 in six years?