Financial Accounting problem

Question 1 (8 marks) a) You will receive $1,000 from your parents as a birthday gift in half year. You have decided to invest it at 5% per annual until you have $1,629. How many years will you have to wait from NOW until you achieve your target? (3 marks) b) You will receive fifty annual payments of $1,000 each beginning at the end of the 40th year. What is the present value of these payments? The appropriate annual discount rate is 10%