Please write all the steps.

1. At time t = 0, Paul deposits P into a fund crediting interest at an effective annual interest rate of 7.8%. At the end of each year in years 9 through 24, Paul withdraws an amount sufficient to purchase an annuity-due of 110 per month for 7 years at a nominal interest rate of 6.6% compounded monthly. Immediately after the withdrawal at the end of year 24, the fund value is zero. Calculate P. [3.a-c #04]

2. Jeff and John shared equally in an inheritance.

Using his inheritance, John immediately bought a 11-year annuity-due with annual payments of 4000 each. Jeff put his inheritance in an investment fund earning an annual effective interest rate of 4.3%. After 3 years, Jeff bought a 14-year annuity immediate with annual payment of Z. The present value of both annuities was determined using an annual effective interest rate of 9.1%. Calculate Z. [3.a-c #03]