1. What is the maximum price you should pay for a contract guaranteeing month-end payments of $500 for the next 12 years if you require a rate of return of at least 6% compounded monthly for the first five years and at least 7% compounded monthly for the next seven years? 2. Calculate the amount of interest paid. Include a well-labelled timeline diagram. Do not round intermediate values. Express the final answers to the nearest cent. Provide your final answers in the accompanying textbox. Upload your hand-written solution to D2L under Assignments inside the Test 2 folder. Format I g - .. A/