components of interest/principal and loan balance from loan inception to payment #2 Problem #6 Jessica Dontcalmejennifer is considering an extended payment plan for a major customer, Nietsniew Ltd. The total amount presently due is $975,000. 24 quarterly repayments of $ 51,549.32 are to be made commencing at the end of the first quarter. Required: Compute the effective ANNUAL interest rate charged by Jessica Problem #7 Waleed purchased a $75,000 Corvette for Sunday travel. He made a down payment of $15,000 and financed the remainder with a 36-month installment loan which required monthly payments of $ 1,825.32 What rate of ANNUAL rate of interest is being charged? Problem #8