Question: Please explain step by step how to solve on a financial calculator and type it out no handwritten notes 1. Mark is planning for his

Please explain step by step how to solve on a financial calculator and type it out no handwritten notes

1. Mark is planning for his daughter's education. She will be attending a college in 12 years. The college expenses are estimated to be $55,000 for a 4-year college. If he can earn 5 percent APR with monthly compounding on a college savings plan, how much does he have to invest every month for the next 12 years? Round it to two decimal places and do not include the $ sign, e.g., 1234.56.

2. Suppose you have a mortgage loan of $240,000 from your bank to buy your home. This mortgage is for 15 years (180 months) and your monthly payment is $1,805.47 per month. What is the APR for the loan? (The monthly payment is just for the loan, not insurance or taxes.)

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