-70.9 POINTS 0/6 Submissions Used MY NOTES Carl is the beneficiary of a $25,000 trust fund set up for him by his grandparents. Under the terms of the trust, he is to receive equal installments from this fund at the end of each year over a 6- year period. If the fund earns interest at the rate of 8%/year compounded annually, what amount will he receive each year? Assume that the balance in the fund is zero after the last installment is received. (Round your answer to the nearest cent.) Submit Answer -70.9 POINTS 0/6 Submissions Used MY NOTES Find the monthly payment needed to amortize a typical $195,000 mortgage loan amortized over 30 years at an annual interest rate of 4.7% compounded monthly. (Round your answers to the nearest cent.)