Question: Please answer this question step by step and explaining how you got the answer 24. [-/1 Points] DETAILS MY NOTES SMITHNM13 11.6.006. Use a calculator

Please answer this question step by step and explaining how you got the answer

24. [-/1 Points] DETAILS MY NOTES SMITHNM13 11.6.006. Use a calculator to evaluate the present value of an annuity formula 1- (1 + ")_\"r n P=m for the values of the variables m, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.) 550; 7%; 5yr s ] Submit Answer 25. [-/1 Points] DETAILS MY NOTES SMITHNM13 11.6.013. Use a calculator to evaluate the amortization formula r T nt 1- (1 + L) n for the values of the variables P, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.) 514,000; 8%; 3 yr s ] Submit

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