1. Assume that you contribute $330 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $660 per month for another 25 years. Given a 6.0 percent interest rate, what is the value of your retirement plan after the 40 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

2. You wish to buy a $21,000 car. The dealer offers you a 4-year loan with a 10.8 percent APR. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.)