Question: 1. Zack's Trailer Sales will finance a 16-foot utility trailer with ramps and electric brakes. If a down payment of $100 and eight monthly payments of $82.56 are required, what is the installment price of the trailer?
2. A forklift is purchased for $10,000. The forklift is used as collateral and no down payment is required. Twenty-four monthly payments of $503 are required to repay the loan. What is the installment price of the forklift?