Please help.

Martha wants to take the next five years off work to travel around the world. She estimates her annual cash needs at $31,000 (if she needs more, she will work odd jobs). Martha believes she can invest her savings at 12% until she depletes her funds.

Requirements

1.

How much money does Martha need now to fund hertravels?

2.

After speaking with a number ofbanks, Martha learns she will only be able to invest her funds at 4%. How much does she need now to fund hertravels?

With the 12% interest rate, Martha needs $________