1. If you invest $2,356 today at an interest rate of 3.53 percent, compounded daily, how much money will you have in your savings account in 14 years? Round the answer to two decimal places.
2. In order to help you through college, your parents just deposited $20,000 into a bank account paying 7% interest. Starting tomorrow you plan to withdraw equal amounts from the account at the beginning of each of the next four years. What is the MOST you can withdraw annually?