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please answer both questions 1. What is the end-of-year wealth (FV) if Ali receives a stated annual interest rate of 24 percent compounded monthly on

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please answer both questions

1. What is the end-of-year wealth (FV) if Ali receives a stated annual interest rate of 24 percent compounded monthly on 1 TL investment? (7 points) 2. Professional Artworks, Inc., is a firm that speculates in modern paintings. The manager is thinking of buying an original Picasso for $400,000 with the intention of selling it at the end of one year. The manager expects that the painting will be worth $480,000 in one year. If the interest rate is 10 percent should the painting be purchased? Use the PV approach! (8 points)

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