22.) Find the payment necessary to amortize the loan. $14,500; $8.35% compounded monthly; 48 monthly payments. 24.) Find the effective rate corresponding to the given nominal rate. (Round to the nearest hundredth) 8% compounded monthly. 28.) Find the amount by which the interest compounded annually is larger than the simple interest. (Round to the nearest cent.) Principal: $890 Rate: 5% Year: 5