please answer these following question and make the writing clear to understand this is annuity as geometric series
4. You decide that you want to purchase a Tesla SUV. You borrow $95,000 for the purchase. You agree to repay the loan by paying equal monthly payments of $1, 200 until the balance is paid off. If you're being charged 0% per year, compounded monthly, how long will it take you to pay off the loan? 5. Your family borrowed $400,000 from the bank to purchase a new home. If the bank charges 3.0% interest per year, compounded weekly, it will take 25 years to pay off the loan. How much will each weekly payment be?
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