The Jones want to save $85,000.00 in 7 years for a down payment on a house. If they make monthly deposits in an account paying 4% compounded monthly, what is the size of the payments that are required to meet their goal? The monthly payments are $__________ (Round to 2 decimal places.)

Find the time required for an investment of 7,000 dollars to grow to 11,000 dollars at an interest rate of 6% per year, compounded monthly. Give your answer accurate to 2 decimal places.