Q1. The Great Giant Corp. has a management contract with its newly hired CEO. The contract requires a lump sum payment of $2.5 million be paid to the CEO upon the completion of her first ten years of service. The company wants to save an equal amount of funds every half year to cover this anticipated cash outflow. Today is 1-Jan, the first saving starts at the end of June and the last saving ends at when the CEO finishes the ten years of service. The company can earn 6.5% APR on these funds. How much must the company save each month for this purpose? (5%)