11. The nominal rate quoted in the market is 8% per annum, and interest is paid every month. What is the effective annual rate (EAR)? 12. You deposit $3,500 today into an account guaranteed to pay 5.7\% APR, compounded monthly. If you make no other deposits or withdrawals for the next five years, how much will you have in the account five years from today? 13. You purchase a residential building lot in Queens for $390,650, put $70,000 down, and finance the balance for 15 years at 12% APR, compounded quarterly. What is your quarterly mortgage payment