1 Nick has been offered a $25,000 loan to buy a car. It will be paid off in equal monthly payments over 48 months. If the monthly payment is $598.66, what is the ANNUAL interest rate on the loan?

2Jack wants to have exactly $15000 in his investment account in exactly 14 years. He plans to make exactly 14 annual deposits to his account starting in exactly 1 year. He believes that we will earn an annual compounded rate of return of 9.6%. What is the exact amount of the required annual deposits?