(please answer both questions)

Jonathan is planning to retire on January 1, 2024. his goal is to have enough money in his savings account to be able to withdraw $2,000 per month beginning one month after retirement and continuing for 25 years after retirement. He earns an annual effective rate of interest of 10% on his account. Determine the minimum amount needed in his savings account on January 1, 2024, to accomplish his goal.

a) < $225.000

b) $225,000 but < $235,000

c) $235.000 but < $245.000

d) $245.000 but < $255.000

e) $255.000

An annuity-due has annual payments that start at 1 and increase by annual amounts of 1 to a payment of 8, then decrease by annual amounts of 1 to a final payment of 1. Find the present value of this annuity at an effective annual interest rate of 3%.

a) 46.45

b) 47.84

c) 49.28

d) 50.75

e) 52.28