#6 the answer 12 full payments, (13 payments total) $546.25 is provided for us. I need step by step work that shows how we got this answer. Financial calculators and excel are not allowed. Thank you!

6. The parents of a child want to save $15,000 for a college fund. Determine how many yearly payments of $750 are needed and the size of the concluding payment if money can earn 7.1% compounded annually. 7. A loan of $5,000 will be settled with monthly payments of $270. Assuming the interest rate is 12% compounded monthly, find the size of the concluding payment if: a) the concluding payment is made at the time of the last full payment. ($425.82) b) the concluding payment is made one period after the last full payment. ($157.38 ) 8. A car is purchased for $8,990. Determine the number of full payments needed and the size of the smaller