14 2. Spencer is taking out a personal loan of $6800. He will be charged interest at 12.8% compounded monthly. The loan is to be repaid in 48 monthly payments, starting 1 month from now. Determine Spencer's monthly payment 74 3. Meghan is saving for a trip to Australia. She wants $10,000 in 5 years. How much should Meghan deposit at the end of each month into an account that pays 6.4% compounded monthly