(a)Lynn Anglin owes a debt of $40,000from the purchase of her new sport utility vehicle. The debt bears annual interest of11.5% compounded monthly. Lynn wishes to pay the debt and interest in equal monthly payments over11years, beginning one month hence. What equal monthly payments will pay off the debt and interest?(Round answer to 2 decimal places, e.g. 25.25. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Monthly Payments: ?

(b)On January 1, 2020, Roger Molony offers to buy Dave Feeney's used snowmobile for $7,500, payable in7equal annual installments, which are to include6.75% interest on the unpaid balance and a portion of the principal. If the first payment is to be made on December 31, 2020, how much will each payment be?(Round answer to 2 decimal places, e.g. 25.25. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Annual Payments?