Q1: Travis makes a donation of $30000 to a local parks and recreation centre to fund a lacrosse program. What amount can be awarded each year, starting in a year, if the fund earns 8% compounded monthly?

Q2: Annette has just inherited $180,000.She invests this money at a rate of return of 6.46% per year compounded quarterly.After some period of time, she purchases an annuity that pays $3241 at the beginning of each month for20 years.

Investing the $180,000 today, how many years until Annette can purchase her annuity?No units are required.