Using Excel or a financial calculator, provide a solution to each of the following situations. (a) Maria Anglin ows a debt of $41,000 from the purchase of her new sport utility vehicle. The debt bears annual interest of 9.6% compounded monthly. Maria wishes to pay the debt and interest in equal monthly payments over 12 years, beginning one month hence. What equal monthly payments will pay off the debt and interest? (Round answer to 2 decimal places, e.g. 25.25.) Monthly payments $ (b) On January 1, 2025, Darpan Molony offers to buy Dave Feeney's used snowmobile for $14,500, payable in 7 equal annual installments, which are to include 8.50% interest on the unpaid balance and a portion of the principal. If the first payment is to be made on December 31, 2025, how much will each payment be? (Round answer to 2 decimal places, e.g. 25.25.) Annual payments $

Using Excel or a financial calculator, provide a solution to each of the following situations. (a) Maria Anglin on s a debt of $41,000 from the purchase of her new sport utility vehicle. The debt bears annual interest of 9.6% compounded monthly. Maria wishes to pay the debt and interest in equal monthly payments over 12 years, beginning one month hence. What equal monthly payments will pay off the debt and interest? (Round answer to 2 decimal ploces, eg. 25.25.) Monthly payments (b) On January 1,2025, Darpan Molony offers to buy Dave Feeney's used snowmobile for $14,500, payable in 7 equal annual installments, which are to include 8.50% interest on the unpaid balance and a portion of the principal. If the first payment is to be made on December 31, 2025, how much will each payment be? (Round answer to 2 decimal places, es. 25.25.) Annual payments