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Question 1 1 pts You need to fund a tuition payment of $48,828 in 20 months. You plan to make 9 equal monthly payments starting
Question 1 1 pts You need to fund a tuition payment of $48,828 in 20 months. You plan to make 9 equal monthly payments starting next month to your savings account to go toward your tuition. If your savings account pays 4.97% APR compounded monthly, how big must the payments be? (a/(1+c/1200)^f) Question 2 1 pts You spent $2,863 on Christmas gifts and put the purchases on your credit card. Your credit card has a 14.56% APR compounded monthly. If you want to pay off your credit card balance in 19 months, the first payment next month, how big are the monthly payments? Calculate your answer to two decimal places (e.g. 55.93)
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