You make $5000 annual payments into a retirement account that pays 8% compounded quarterly. If your first deposit is made in one year from now, how large will your account balance be in 20 years?
A) $235,068.39
B) $265,068.39
C) $275,068.39
D) $245,068.39
E) $255,068.39
You want to buy a new sports car from Muscular Motors for $200000. The contract is 48 months annuity at a 5.4465% APR. What will be our monthly payment?
A) $4,850.43
B) $4,646.42
C) $4,852.43
D) $4,625.43
E) $4,012.43
If someone would be kind enough how to step me through using the BA II Plus Professional Calculator solving this problems.