6) Suppose you buy a new electric motorcycle for $14,550 and agree to pay for it in 36 equal monthly payments at 4.5% interest per month on the unpaid balance. a) How much are your payments? (3 pts)

b) How much interest will you pay? (2 pts)

7) A company estimates that it will need $205,000 in 5 years to replace their computer server. If the company establishes a sinking fund by making fixed monthly payments into an account that pays 4.6% compounded monthly, how much should each payment be? (3 pts)