Please include as much detail as possible to assit my understanding. If any problem can be solved using a factoring calculator please include what numbers to enter to find my answer. Thank you.

1. Future Value Bill O'Brien would like to take his wife, Mary, on a trip four years from now to Europe to celebrate their 40th anniversary. He has just received a $19000 inheritance from an uncle and intends to invest it for the trip. Bill estimates the trip will cost $23700 and he believes he can earn 5% interest, compounded annually, on his investment. What amount will he have after four years? Assume that the trip will cost $25300. What interest rate, compounded annually, must Bill earn to accumulate enough to pay for the trip? Bill's total in 4 years Interest rate needed to meet new cost (in %) 2. Annuity Payments Don James purchased a new automobile for $24000. Don made a cash down payment of $6000 and agreed to pay the remaining balance in 48 monthly installments, beginning one month from the date of purchase Financing is available at a 12% annual interest rateRequired:Calculate the amount of the required monthly payment. Payment amounts