1. Given an interest rate of 7.25 percent per year, what is the value at Year 10 of a perpetual stream of $4,000 payments that begin at Year 18? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Present value $
2. Janice is hoping to save $200,000 by the time she retires in 20 years. How much must Janice deposit annually at the end of each year to reach this retirement goal on December 31, Year 20, assuming she can earn a 4% annual rate of return on her retirement account?