Chen has nothing saved for college. He will need to pay 85,040 dollars per year to the school for 4 years. The first of these payments will be made in 5 years. Chen can earn 14.75 percent per year. How much does Chen need to save each year for 4 years to have exactly enough to pay for his education if he makes his first savings contribution later today and all savings contributions are equal? Number Fairfax Paint just borrowed 57,100 dollars. The terms of the loan require the company to make equal semi-annual payments forever. The first semi-annual payment is due in 6 months. If the regular semi- annual loan payment is 4,050 dollars, then what is the EAR of the loan? Answer as a rate in decimal format so that 12.34% would be entered as 1234 and 0.98% would be entered as .0098 Number 7