1. Dinero Bank offers you a five-year loan for $58,000 at an annual interest rate of 6.25 percent. What will your annual loan payment be? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)
2. Find the present value of an annuity-due of $750 per annum payable semiannually for 8 years if the nominal rate of discount convertible bimonthly is .06.
3. You borrow $6,030 to buy a car. The terms of the loan call for monthly payments for 4 years a rate of interest of 5 percent. What is the amount of each payment?