Question: PLEASE TYPE OUT STEP BY STEP USING THE FINACIAL CALCULATOR. NO HANDWRITTEN NOTES 1. You are buying a new home, and you have negotiated a

PLEASE TYPE OUT STEP BY STEP USING THE FINACIAL CALCULATOR. NO HANDWRITTEN NOTES

1. You are buying a new home, and you have negotiated a 15-year mortgage loan with a local bank for an amount $246,000 at 3.53 percent APR with monthly compounding. What would your monthly payment be? Round it to two decimal place (cents), e.g., 234.56.

2. Suppose you plan to retire in 40 years. If you make 10 annual investments of $6,000 into your retirement account for the first 10 years, and then no more contributions to the account for the remaining 30 years. If the retirement account earns a fixed 5% annual interest, how much will you have at your retirement? Round it to two decimal places without the $ sign, e.g., 1234567.89.

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