1) A company acquires a piece of equipment whose cost is $60,000. The bank that will finance the purchase stipulates an annual interest rate of 5% to be paid in 12 years. Required: a) Calculate the annual payment. b) Establish the amortization table c) Round your calculations to the second decimal place. . 2) If you buy a car for $36,000 at an annual interest rate of 5.34% and It will be financed for 1 year, how much are the monthly payments? Required: a) Calculate the monthly payment. b) Establish the amortization table c) Round your calculations to the second decimal place.