a.	If you borrow $1,900 and agree to repay the loan in five equal annual payments at an interest rate of 12%, what will your payment be? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Amount of payment

$

b.	What if you make the first payment on the loan immediately instead of at the end of the first year? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Repayment amount

$