need help please! question (#7, #8)

Question 7 10 pts 5 1 0 Details Your client's 401K account has an initial balance of $6,600 and has monthly contributions of $400. It earns 6.6% annual interest, compounded monthly, for 38 years. At the age of retirement, your client will "annuitize" their 401K balance and take monthly payments for 19 years. Their investments during retirement will earn 4.6% per year, with monthly compounding. Inflation is 2.8% annually. What is the value of your client's monthly payments in real dollars? Answer = (Round to the nearest penny) Question 9 > 10 pts 1 Details A while ago, a couple purchased a home with a sales price of $560,000, making a 10% down payment and financing the rest with a 30-year adjustable rate mortgage fixed at 3.9% for the first nine years. Now that the fixed rate period is up, the couple is facing a higher adjustable rate. They now plan to refinance into a fixed rate 15-year mortgage at 5.8%, allowing them to pay it off before they retire. What will their new monthly payments be? Assume there are no costs associated with the refinance. (Round Answer = $ to the nearest cent/penny) Note: In many adjustable rate mortgages, there is a period of time where the interest rate is fixed. After that time, the rate can adjust regularly based on economic conditions and bank policy. This means the monthly payments could change dramatically once the "fixed rate" period, in this case the first 9 years, is over