ANSWER ALL PARTS AND GIVE STEP BY STEP SOLUTIONS

d). Suppose that an annuity will provide for 20 annual payments of 1380 dollars, with the first payment coming 12 years from now. If the nominal rate of interest is 11 percent convertible monthly, what is the present value of the annuity?

e) Larry borrows 18800 dollars from Moe at an effective rate of 9.2 percent, and agrees to make 12 equal annual payments (the first a year from now) to repay the loan. Immediately after Larry makes the seventh payment, Moe sells the loan to Curly. If Moe's total yield rate is 6.8 percent effective, how much does Curly pay for the loan?