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#1 Derek Lee just received a signing bonus of $1,000,000. His plan is to invest this payment in a fund that will earn 8%, compounded annually. (a) If...

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#1 Derek Lee just received a signing bonus of $1,000,000. His plan is to invest this payment in a fund that will earn 8%,  compounded annually. (a) If Lee plans to establish the DL Foundation once the fund grows to $1,850,930, how many years until he can  establish the foundation?  years (b) Instead of investing the entire $1,000,000, Lee invests $300,000 today and plans to make 9 equal annual  investments into the fund beginning one year from today. What amount should the payments be if Lee plans to  establish the $1,850,930 foundation at the end of 9 years?  (Round answers to 0 decimal places, e.g. $458,581.) $ #2 Derek Lee just received a signing bonus of $1,000,000. His plan is to invest this payment in a fund that will earn 8%,  compounded annually. (a) If Lee plans to establish the DL Foundation once the fund grows to $1,850,930, how many years until he can  establish the foundation?  years (b) Instead of investing the entire $1,000,000, Lee invests $300,000 today and plans to make 9 equal annual  investments into the fund beginning one year from today. What amount should the payments be if Lee plans to  establish the $1,850,930 foundation at the end of 9 years?  (Round answers to 0 decimal places, e.g. $458,581.) $
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