Complete the following problems on the CBU engineering paper supplied by your instructor on the Canvas course page. Please present your work in an orderly and neat fashion. Please present one problem per page and use a straight-edge to draw cash flow diagrams. Complete problems in pencil only. Show all of your calculations. Assume compound interest for both problems. 1. Dr. Sean June, Director of the Gadomski Center for Engineering Innovation would like to purchase a new laser-cutter to be used by students in the Gadomski School of Engineering. The cost of the laser-cutter is expected to be $225,000 four years from now. Assume Christian Brothers University can earn 4% interest per year on their investments. Compute the amount of money that the Gadomski Center of Engineering Innovation must put into an account now to finance the purchase of the laser-cutter four years from now? Compute the amount to the nearest cent. 2. Memphis Bioworks Foundation is planning to replace the audio visual equipment in their 250 seat auditorium. Brandon Wellford, Chief Financial Officer for Memphis Bioworks has determined the cost of the new equipment will be $150,000. Brandon has decided to pay a 18% down payment for the equipment. The remainder will be financed at a compound interest rate of 6% per year to be paid back in five yearly payments. Compute all dollar amounts to the nearest cent. a. Compute the amount of the annual payment b. Fill out an amortization table as shown below C. How much of the annual payment goes to pay the interest for the second year? d. How much would be owed after making the third payment? Year Interest Payment Principal Payment Ending Balance 0 1 N 4 5