#$27$

A successful businessman is selling one of his fast food franchises to a close friend. He is selling the business today for $$2,146,200\mathrm{.}00.$ However, his friend is short on capital and would like to delay payment on the business. After negotiation, they agree to delay $4\mathrm{.}00$ years before the first payment. At that point, the friend will make quarterly payments for $20\mathrm{.}00$ years. The deal calls for a $5\mathrm{.}28\%$ APR "loan" rate with quarterly compounding. What quarterly payment will the friend make on the loan?

Answer format: Currency: Round to: $2$ decimal places.

#$28$

A University is offering a charitable gift program. A former student who is now $50$ years old is consider the following offer: The student can invest $$9,100\mathrm{.}00$ today and then will be paid a $8\mathrm{.}12\%$ APR return starting on his $65$ th birthday $($i$.$e For a $$10,000$ investment, a $9\%$ rate would mean $$900$ per year$).$ The program will pay the cash flow for this investment while you are still alive. You anticipate living $20\mathrm{.}41$ more years after your $65$ th birthday. The former student wants a return of $5\mathrm{.}92\%$ on his investments, but would like to consider this opportunity.

What is the annual cash flow from the investment starting on the student's $65$ th birthday?

Answer format: Currency: Round to: $2$ decimal places.