1)Mary Jo wants to buy a boat that is available at two dealerships. The price of the boat is the same at both dealerships. Middlefield Motors would let her make quarterly payments of 2,324.41 dollars for 7 years at a quarterly interest rate of 2.17 percent. Her first payment to Middlefield Motors would be due immediately. If Fairfax Boats would let her make equal monthly payments of 1,493.46 for 3 years and if her first payment to Fairfax Boats would be in 1 month, then what is the monthly interest rate that Mary Jo would be charged by Fairfax Boats? Answer as a rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098.

2)What is the value of a building that is expected to generate fixed annual cash flows of 101,300 dollars every year for a certain amount of time if the first annual cash flow is expected in 4 years, the last annual cash flow is expected in 11 years, and the appropriate discount rate is 13.98 percent?