5a) You just borrowed $198,783 to by a new house. The advertised interest rate was 9% APR with monthly compounding. The loan is 30 years long, with equally-sized monthly payments. The first payment is due in one month. Determine the reduction in principle associated with the second payment. Enter your answer as a positive value with at least 4 digits of precision.

5b) Your current goal is to have $26,481 in the bank two years from now.

Youve decided to grow your money via making a series of equally-sized monthly deposits into a savings account at the Bank of the West. Your first deposit will occur immediately. Subsequent deposits will be monthly (and of equal size). Youll make a total of 24 monthly deposits.

The bank advertises an APR of 8.73% with monthly compounding.

How much money will you need to deposit today in order to meet your goal?

Enter your answer as a positive value with at least 4 digits of precision.