Annuities: finding A when P is given

7.- A company just bought a new machine for $7 million. They want to pay in parts: in 6 years time, each year an equal amount so that at the end the whole debt will be paid off. The first payment is due one year after the purchase. The selling company demands an interest of 14% annual. What yearly amount does the company pay?

Annuities: finding A when F is given

8.- A 55 year old employee wants to buy a yacht to sail around the world when he retires. He has exactly 10 years to get the $100,000 that he needs. What does he have to save per year if the interest rate is 9% per year ? (the first deposit will be made in 1 year from now)