1. Suppose the interest rate is 6.1 % APR with monthly compounding. What is the present value of an annuity that pays $ 105 every three months for four ?years? ?(Note: Be careful not to round any intermediate steps less than six decimal? places.)
2. Suppose Capital One is advertising a 60?-month, 5.72 %APR motorcycle loan. If you need to borrow $7,900 to purchase your dream? Harley-Davidson, what will be your monthly? payment. (Note: Be careful not to round any intermediate steps less than six decimal? places.)