1) You have found three investment choices for a one-year deposit: 9.4% APR compounded monthly, 9.4% APR compounded annually, and 8.8% APR compounded daily. Compute the EAR for each investment choice. (Assume that there are 365 days in the year.) (Note: Be careful not to round any intermediate steps less than six decimal places.)

The EAR for the first investment choice is _____%.

2) Suppose Capital One is advertising a 60-month, 5.78% APR motorcycle loan. If you need to borrow $9,000 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.)

Your monthly payment will be $________.