1. You are planning to make annual deposits of $6,570 into a retirement account that pays 8 percent interest compounded monthly. How large will your account balance be in 25 years? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)
2. Jamison Insurance's stock currently sells for $20.00 a share. It just paid a dividend of $1.80 a share (that is, D0=$1.80). The dividend is expected to grow at a constant rate of 4.75% a year. What is the expected rate of return? (Answer as a percent with 2 decimal places. For example, 10 percent should be entered as 10.00. Do not use the % sign.)