A person borrows 80.000 at the beginning of a year and agrees to repay this amount in 10 annual payments of the same amount at the end of each year with an interest rate of 7% and annual compounding. a) Determine the annual payment amount. b) Assume that the loan is to be repaid in monthly payments at the end of each month at a nominal interest rate of 7% compounded monthly. Determine the monthly payment amount