Question: really struggling with these 2 problems :) You are considering taking out a $5000 loan for 30 months at 5.5% APR and want to know

You are considering taking out a $5000 loan for 30 months at 5.5% APR and want to know the monthly payment a. Indicate the strategy that will you use in part b by circling one of the following: o I will use the APY Formula directly o I will reverse the APY Formula and use that. o I will use the Be=0 special case of the General Regular Deposits Balance Formula directly o I will reverse the Bo - O special case of the General Regular Deposits Balance Formula and use that o I will use the Monthly Annuity Yield Goal Formula directly o I will reverse the Monthly Annuity Yield Goal Formula o I will use some other formula. Specify briefly b. Calculate the monthly payment. (Round your answer to the nearest cent.) [It is highly recommended that you write out the sequence of scientific calculator keystrokes that you use.) Against expert advice, you begin your retirement savings at age 40. You plan on retiring at age 55. You want to determine how much you would you need to deposit each month into a savings account with an APR of 9% compounded monthly if your goal is a nest egg of $150,000 a. Indicate the strategy that will you use in part b 6 circling one of the following: o I will use the APY Formula directly o I will reverse the APY Formula and use that, o I will use the Bo - O special case of the General Regular Deposits Balance Formula directly o I will reverse the Bo - O special case of the General Regular Deposits Balance Formula and use that o I will use the Monthly Annuity Yield Goal Formula directly o I will reverse the Monthly Annuity Yield Goal Formula o I will use some other formula. Specify briefly b. Calculate the monthly deposit that you will need to make. (Round your answer to the nearest cent) [it is highly recommended that you write out the sequence of scientific calculator keystrokes that you use.) You are considering taking out a $5000 loan for 30 months at 5.5% APR and want to know the monthly payment a. Indicate the strategy that will you use in part b by circling one of the following: o I will use the APY Formula directly o I will reverse the APY Formula and use that. o I will use the Be=0 special case of the General Regular Deposits Balance Formula directly o I will reverse the Bo - O special case of the General Regular Deposits Balance Formula and use that o I will use the Monthly Annuity Yield Goal Formula directly o I will reverse the Monthly Annuity Yield Goal Formula o I will use some other formula. Specify briefly b. Calculate the monthly payment. (Round your answer to the nearest cent.) [It is highly recommended that you write out the sequence of scientific calculator keystrokes that you use.) Against expert advice, you begin your retirement savings at age 40. You plan on retiring at age 55. You want to determine how much you would you need to deposit each month into a savings account with an APR of 9% compounded monthly if your goal is a nest egg of $150,000 a. Indicate the strategy that will you use in part b 6 circling one of the following: o I will use the APY Formula directly o I will reverse the APY Formula and use that, o I will use the Bo - O special case of the General Regular Deposits Balance Formula directly o I will reverse the Bo - O special case of the General Regular Deposits Balance Formula and use that o I will use the Monthly Annuity Yield Goal Formula directly o I will reverse the Monthly Annuity Yield Goal Formula o I will use some other formula. Specify briefly b. Calculate the monthly deposit that you will need to make. (Round your answer to the nearest cent) [it is highly recommended that you write out the sequence of scientific calculator keystrokes that you use.)
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