Business & Finance Homework Help

See imagesQuestion 1Helen wants to buy a car when she graduates from Central University 5 years from now. She believes that she will need $30,100 to buy the car.Click here to view the factor table.(a) Calculate how much money Helen must put into her savings account today to have $30,100 in 5 years, assuming she can earn 10% compounded annually. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,975.)Amount$enter a dollar amount (b) Calculate how much money Helen must put into her savings account today to have $30,100 in 5 years, assuming she can earn 10% compounded semiannually. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,975.)Amount$enter a dollar amount Question 2Steven is planning for his retirement this year. One option that has been presented to him is the purchase of an annuity that would provide a $44,000 payment each year for the next 12 years.Click here to view the factor table.Calculate how much Steven should be willing to pay for the annuity if he can invest his funds at 11%. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,971.)