Please do two questions otherwise skip. Do both Q ( 1 ) and Q ( 2 ).

Question: 1. Don has just taken out a loan with his bank for to help start up his business. His monthly repayments are $2,500 for the next 5 years. Determine the present value of these repayments if the interest on the loan is 6.5% P.A. compounded monthly. Show all workings (if using your financial calculator, list the key values you entered). 2.Jane wishes to have $25,000 in her savings account within 8 years. If the interest rate on the account is 3.5% P.A. compounded yearly, how much should Jane initially deposit into the account (to the nearest dollar)? Show all workings (if using your financial calculator, list the key values you entered)