1. A commercial bank will loan you $48,930 for 6 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 17.28 percent of the unpaid balance. What is the amount of the monthly payments?

2) You have decided to place $830 in equal deposits every month at the beginning of the month into a savings account earning 4.19 percent per year, compounded monthly for the next 13 years. The first deposit is made today. How much money will be in the account at the end of that time period?