Unless stated otherwise, interest is compounded annually, and payments occur at the end of the period. Face value for bonds is $1000.

1. Sue Sure needs $100,000 in 5 years. She currently has $20,000 in an account and can save $15,000 per year for 5 years. The account earns 4% per year.
   1. Find the amount of excess or shortfall from her target goal.
   2. If she has enough money for her goal, she will make annual donations to charity each year for 3 years (at the end of the year). Find the amount of the donation.

OR

If she is short, then she will take out a 3-year loan for the difference. Find her annual loan payment.