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1. What is the present value of a security that will pay $25,000 in 20...

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Finance

1. What is the present value of a security that will pay $25,000 in 20 years if securities of equal risk pay 7.4% annually? Do not round intermediate calculations. Round your answer to the nearest cent.

2. You have $29,347.08 in a brokerage account, and you plan to deposit an additional $5,500 at the end of every future year until your account totals $230,000. You expect to earn 8.5% annually on the account. How many years will it take to reach your goal? Do not round intermediate calculations. Round your answer to the nearest whole number.

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