A. To purchase a car, you borrow from a bank $7,500 to be repaid with 24 equal monthly payments, the first of which to be made immediately. The annual interest rate is 12%. What is the amount of your monthly payment?

B. You currently own a level perpetuity making $1,000 payments every year. Your friend Proposition Joe offers to purchase it from you and pay for it with 5 equal yearly payments, the first of which to happen a year from now. If the interest (discount) rate is 5%, what is the minimum yearly payment that Proposition Joe has to offer for you to accept?

C. You are about to sign a 3-year rental contract for a new apartment in Astoria Queens according to the lease contract you will have to pay $3,200 per month at the beginning of each month for 36 months. However, it would be more convenient for you to pay at the end of each month, instead of at the beginning. But, since your landlord has taken FIN3000, he says that if you desire to pay at the end of the month some adjustment has to be made to the monthly rent payment. If the interest (discount) rate your landlord is using is 6% annual (0.5% per month) what is the minimum you expect your landlord to ask you in order to let you pay at the end of each month?