1. If you want to have $139,128 in 7 years, how much money should you put away in a saving account today? Assume that the savings account pays you 3.0 percent and its compounded annually.
2. What is the present value of the following future amount? $116,349, to be received 7 years from now, discounted back to the present at 4 percent, compounded annually. Round the answer to two decimal places.