Current Attempt in Progress

Using a financial calculator, provide a solution to each of the following situations.

$($a$)$ Ruth Lewis owes a debt of $$53,000$ from the purchase of her new sport utility vehicle. The debt bears annual interest of $6\mathrm{.}40\%$ compounded monthly. Ruth wishes to pay the debt and interest in equal monthly payments over $11$ years, beginning one month hence. What equal monthly payments will pay off the debt and interest? $($Round answer to $2$ decimal places, e$.$g$.25\mathrm{.}25.)$

Monthly payments

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$($b$)$ On January $1,2022,$ Edward Lewis offers to buy Dave Feeney's used snowmobile for $$10,000,$ payable in $6$ equal annual installments, which are to include $6\mathrm{.}75\%$ interest on the unpaid balance and a portion of the principal. If the first payment is to be made on December $31,2022,$ how much will each payment be$?($Round answer to $2$ decimal places, e$.$g$.25\mathrm{.}25.)$

Annual payments

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