9.Assume that upon retirement, you wish to receive $40,000 per year for the first ten years. How much will you need in a fund to assure yourself of your desired financial arrangement upon retirement?...

9.Assume that upon retirement, you wish to receive $40,000 per year for the first ten years. How much will you need in a fund to assure yourself of your desired financial arrangement upon retirement? Assume an interest rate of 12%. (Show your work.)

10.Yellow Strawberry borrowed $45,000 to start a traveling fast-pitch softball team for girls age sixteen and under. The note signed at the bank requires Strawberry to make five equal annual payments, with the first payment due one year from the date the note was signed. Assuming the bank's borrowing rate is 6%, what will be the amount of Yellow Strawberry’s five payments? (Show your work.)