Question 11 2.5 pts Quinn wants to retire with $5,600,000 in the bank account 30 years from now. Assume the interest rate is 10,4% and it compounds annually, Assuming Quinn currently has no assets reserves for his retirement, how much in payment should Quinn make each year to meet his goal of $5,600,000? $47.256.24 $31,554.71 $32.364.24 $29,256,24 Question 12 2.5 pts Assuming the nominal interest rate (APR) of 6%, what is the effective annual rate (EAR) when the interest rate compounds monthly? 6.09% 6.06% 617% 6.23%