By 1970, your grandpa decided to save some money for the future. He opened a bank account with one single deposit of $750 at an interest rate of 7% per year. Since he was thinking in the long run, he forgot that money until today. He has just decided to give you this money as his favorite grandson. You plan to use the received amount of money to buy a $50,000 car. This money will help you with the initial payment. For the remaining amount, you plan to go on credit with the seller. The offer is a loan to an APR of 13% and a maximum time of 5 years to pay; payments must be monthly. No matter the proposed payment, you just have enough cash flow to pay $600 monthly 1. How much are the proposed payments? 2. If not enough to cover them, you must pay an addition to the beginning of the agreement. 3. If you do not have such extra currently, the seller offers you a different alternative: you should pay extra at the end of each year. How much should be such extra payment