1. Cindy wants 2.5 million for her retirement at age 65. Cindy is 25 years old today and plans to deposit equal amounts each year starting on her 26th birthday and ending on her 65th birthday. If her investments earn 6% per year, how much must each deposit be? Please show your work.
2. Blue Jazz, Inc., has 11 percent coupon bonds on the market that have 18 years left to maturity. The bonds make annual payments. If the YTM on these bonds is 13.5 percent, the current price of the bond $______. Round it two decimal places.