Exercise 5-14 (Algo) Solving for unknown annuity amount (LO5-9] 7 2 points Sandy Kupchack just graduated from State University with a bachelor's degree in history. During her four years at the university, Sandy accumulated $10,250 in student loans. She asks for your help in determining the amount of the quarterly loan payment. She tells you that the loan must be paid back in five years and that the annual interest rate is 8%. Payments begin in three months. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) eBook Required: Determine Sandy's quarterly loan payment. (Round your final answers to nearest whole dollar amount.) Print Table or calculator function: Present value: $ 10,250 References n = 20 i = 2% Quarterly payment: 8 Exercise 5-15 (Algo) Deferred annuities; solving for annuity amount (LO5- 8, 5-9] 1 points On April 1, 2021, John Vaughn purchased appliances from the Acme Appliance Company for $1,000. In order to increase sales, Acme allows customers to pay in installments and will defer any payments for six months. John will make 18 equal monthly payments, beginning October 1, 2021. The annual interest rate implicit in this agreement is 24%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) eBook Required: Calculate the monthly payment necessary for John to pay for his purchases. (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.) Print Monthly payment References