Part 1.A company wants to have $20,000 at the end of a 7-year period by investing a single sum now. How much needs to be invested in order to have the desired sum in 7 years, if the money can be invested at 17%?(Round answer to nearest dollar).

Part 2.B At the end of 3 years, when you graduate from college, your father has promised to give you a used car that will cost $16,000. What lump sum must he invest now to have the $16,000 at the end of 3-years if he can invest money at 9%? (Round answer to nearest dollar)