simple annuities

Question 2 (1 point) Find the annual cost of a road if it initially costs $1550000 up front, but requires $250000 in maintenance every 3 years, a total of 6 times in its lifetime. The interest rate is 5.3% compounded annually. Your answer should be accurate to the nearest cent. (Ex: 42001.34) Your Answer: Answer Question 3 (1 point) In 8.0 years we will need a sinking fund worth $191000. We will be paying into the fund at the end of each month, but we will also be making an initial deposit of $60000 on the day we open the account. If the interest rate is 8.0% compounded monthly, how much do we need to contribute each month