Can you please answer the following questions -

(show me the steps)

Problem 1

You would like to retire in 18 years. The expected rate of inflation is 04.00% per year. You currently have a standard of living that requires $9,614 of monthly expenses. Assuming you want to maintain the same standard of living in retirement, what are your monthly expenses expected to be the first year of retirement?

Problem 2

You purchases a house for $308,807. You made a down payment of $20,000 and the remainder of the purchase price was financed with a mortgage loan. The mortgage loan is a 30 year mortgage with an annual interest rate of 08.00%. Mortgage payments are made monthly. What is the monthly amount of your mortgage payment?