Hi, im having troubles solving these two problems. Do I Use the same formula for both or are they separate formulas? I would love to see your work so I can see the process!

Lup made a down payment of $9000 toward the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 7%/year compounded monthly. Under the terms of her finance agreement she is required to make payments of $440/month for 48 months. What is the cash price of the car? (Round your answer to the nearest cent.) Need Help? Read It Watch It 0/1 POINTS PREVIOUS ANSWERS TANFIN12 5.2.026. MY NOTES ASK YOUR TEACHER A state lottery commission pays the winner of the Million Dollar lottery 40 installments of $25,000/year. The commission makes the first payment of $25,000 immediately and the other n = 39 payments at the end of each of the next 39 years. Determine how much money the commission should have in the bank initially to guarantee the payments, assuming that the balance on deposit with the bank earns interest at the rate of 5%/year compounded yearly. Hint: Find the present value of the annuity. (Round your answer to the nearest cent.)