1. Suppose you want to give an "All expenses paid Cruise to Bahamas" as a gift to your parents on their 25th wedding anniversary. If that anniversary is 4 years from today and the cruise costs $3,940, how much would you have to deposit today to reach your goal, if your bank offers you 7% APR interest? (Round the answer two decimal point)

2. Using the Rule of 72, approximately how long will it take to double your money if you invest it at 9% compounded annually? (Round your answer to two decimal point)