Question: pls answer both questions pls. Problem 6. [4 pts] Yoshe Bank agreed to lend you funds to complete the last year of your degree. The

pls answer both questions pls.

Problem 6. [4 pts] Yoshe Bank agreed to lend you funds to complete the last year of your degree. The bank will lend you $10,000 today, if you agree to repay a lump sum of 15,500 eight years from now. What annual rate of interest is the Bank charging you? (Assume annual compounding and show your calculations) Problem 7. [4 pts] Taylor Slow wants to save $260,000 for a down payment on a home in five years, assuming an interest rate of 6.0% compounded semi-annually, how much money does she need to save each month? (Show your calculations)

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