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? O $47.256.24 o $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? O 6,09% 06.06% O 6.17% O 6.23% 2.5 pts 12