Please answer both questions.

1) ou just bought a painting from an unknown (not-yet recognized) artist for $16,550. You believe that when the artist becomes as well known as Picasso, the painting will be worth very much more. If you think that its value will increase by 5.5% every year, how many years will it take before it will be worth $1 million? 2) Consider two different, 10 year, $5500 loans, one at simple interest, and one at compound interest. The rate is 4.5% in both cases. a) What is the total interest that would be paid using simple interest? b) In the case of the compound interest, what is the total amount which is repaid after 10 years? No payments will be made before the end of the 10th year c) For the same compound interest case, how much is the total interest paid