12-13. You take a $28,350 add-on loan at 7% simple interest for 6 years. 12. Find the monthly payment. a. $597.12 b. $487.28 c. $510.38 d. $559.13 13. If you pay off the loan with 20 payments left, what is the rebate you receive based on the rule of 78s? a. $729.47 b. $810.38 c. $951.47 d. $1,133.46 14. A pension fund will pay you $3,000 per year forever. If the first payment will be made at the beginning of year 6 and interest rate is 5%(1), what is the PV of the pension fund (at t=0)? a. $51,830.26 b. $49,362.40 c. $47,011.57 d. $44,772.92