Michelle Ogleby wants to accumulate $48,000 to use for an around the world trip. She plans to accumulate the desired amount by depositing $6,600 annual-year-end payments into an account at the National Bank which pays 6% interest, compounded annually. (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 2 decimal places, e.g. 458,581.50.) *MUST USE BAII PLUS CALCULATOR* 1. Compute the account balance at the end of the sixth year.

Account balance

$ __________________

2. Compute the amount of each payment that Michelle must make at the end of each of the six years to accumulate the $48,000.

Amount of each payment

$___________________