You want to buy a new surfboard 6 years from now. You have

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You want to buy a new surfboard 6 years from now. You have

You want to buy a new surfboard 6 years from now. You have $700 in the bank today. You can earn 5% on your savings. If the surfboard will cost $5,000, how much will you have to save every year to have enough to buy it? Round your answer to 2 decimals, for example 100.12
You are thinking of buying a new car for $50,000. You will borrow the money to buy the car, and payback the loan in annual payments over 5 years. If the interest rate is 4% per year, what is your payment amount? Round your answer to 2 decimals, for example 100.12

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You want to buy a new surfboard 6 years from now. You have