You deposit $2,400 into an account that pays 6% per year. Your plan is to withdraw this amount at the end of 5 years to use for a down payment on a new car. How much will you be able to withdraw at the end of 5 years? Round your answer to the nearest cent. Do not round intermediate calculations. $

Today, you invest a lump sum amount in an equity fund that provides an 11% annual return. You would like to have $11,400 in 6 years to help with a down payment for a home. How much do you need to deposit today to reach your $11,400 goal? Round your answer to the nearest cent. Do not round intermediate calculations. $