Paul Adams owns a heath club in downtown los angeles. He charges his customers an annual fee of $800 and has an existing customer base of 660.Paul plans to raise the annual fee by 6 percent every year and expects the club membership to grow at a constant rate of 4 percent for the next 5 years. The overall expenses of running the health club are $31000 and expected to grow at the inflation rate of 2 percent annually. After five years Paul plans to buy a luxury boat for 560000 close to the health club and travel the world in his boat for the rest of his life.Assuming Paul has a remaining life of 25 years and earns 9 percent on his savings.

question 1 how much will Paul have in his savings on the day he starts his world tour assuming he has already paid for the boat

question 2 what is the annual amount paul can spend on his tour if he has no money in his accounts when he dies

NOTE do not run intermediate calculations and round all answers to 2 decimal places.