Camila has her deposit in the Hudson Saving Bank which pays an annual nominal rate of 7.74% but it compounds the money daily (assume that there is 365 days per year. What is Camilas EAR (effective or equivalent annual rate)?

Emily is making 13 annual payments on a loan for a house ($600,000 borrowed) which, like most mortgage loans, is amortized. If the annual interest rate is 5.6%, what part of the first payment (dollar amount) goes toward the interest owed?