1. Daisy's firm owns your firm $42,800. This amount is delinquent so you have offered to arrange a payment plan in the hope that you might at least collect a portion, if not all,of this money. Your offer will consist of weekly payments for 2 years at an interest rate of 4%, what is the amount of each payment?
2. The Macy Co. is considering the purchase of some new equipment. The quote consists of a quarterly payment of $4,740 for 10 years at 7.5% interest. What is the purchase price of the equipment?