Solve and please show work..

Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 7%/year compounded monthly. If the future value of the annuity after 11 yr is $50,000, what was the size of each payment? (Round your answer to the nearest cent.) Need Help?Read It Talk to a Tutor -/0.05 points TanApMath5 4.3.018. Suppose payments will be made for 9-yr at the end of each month into an ordinary annuity earning interest at the rate of 6.25%/year compounded monthly. If the present value of the annuity is $48,000, what should be the size of each payment? (Round your answer to the nearest cent.) My Notes 4