1. Hunan bought a car priced at $15,500 for 15% down and equal monthly payments for five years. If interest is 6 % compounded monthly, what is the size of the monthly payment? The monthly payment is $_____.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as? needed.)
2. Three years ago, Blamble Enterprises purchased a machine at a cost of $89,000. The machine could be sold today for $74,000. The depreciation to date is $38,200. What is the current book value of the machine?