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1. The monthly payments on a 25-year loan of $30,000 at 6.7% interest are $206.33. (a)...

1. The monthly payments on a 25-year loan of $30,000 at 6.7% interest are $206.33.

(a) What is the total amount paid over the 25 years?

(b) What is the total amount of interest paid?

2. How much should be invested each year for 10 years to provide you with $9000 per year for the next 35 years? Assume a 5.5% interest rate. (Round your final answer to two decimal places.)

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