please help me with these questions! Thank you!

1. John is saving up to buy a piano in three years. In three years, the piano will cost 5500. To save up to purchase the piano, John makes level end of month deposits in to a savings account crediting interest at a nominal rate of 12% convertible monthly. In what amount are Johns monthly deposits? (a) 115-120 (b) 120-125 (c) 125-130 (d) 130-135 (e) 135-140

2.

Albert and Allison borrow exactly the same amount from Liberty Financial. Albert will repay his loan with 20 end of year annual payments. Albert's first payment will be 950, and each of his successive payments will be 950 greater than the one before. Allison will make level payments of 50000 at times T; 2T; 3T; 4T. Both Albert and Allisons loans are subject to the same annual effective rate of 5%. Determine the time of Allisons first payment.

(a) 2.7-2.9 years (b) 3-3.2 years (c) 3.5-3.7 years (d) 5-5.2 years (e) 5.5-5.7 years