Q1: Paul currently has $25,000 in his RRSP. He will let it collect interest at a rate of 6% compounded semiannually. He will retire when he has enough money to purchase an annuity that pays $1,000 at the end of each month for 25 years, while money earns 9% compounded monthly. How long must Paul wait until he can retire?

Q2: You have decided to invest in you RRSP over the next 20 years. You intend to make biweekly contributions over this time period with the first one paid today. When you retire in 25 years, you would like to receive $1,300 month-end payments for the next 20 years. If your investments earn a rate of 6.25% compounded quarterly, what biweekly investments should you make over the next 20 years?